Austin-based workers’ compensation insurer, Texas Mutual Insurance Co., has paid more than $3 million in early qualifier dividends to approximately 4,000 newer policyholder owners across the state.
This payout is the final component of the company’s $280 million record dividend distribution to more than 50,000 policyholders in 2018.
Early qualifier dividend recipients are those who are already maintaining safe workplaces but haven’t been with Texas Mutual long enough to qualify for a regular dividend. It includes those who have a good loss ratio on their first-year policy with Texas Mutual and have renewed their policy.
Texas Mutual is a policyholder-owned company and shares its success by distributing dividends to policyholder-owners. This is the 20th consecutive year that the Texas Mutual board of directors has voted to distribute policyholder dividends, bringing the total to $2.5 billion. More than $1.5 billion of that has been paid since 2012.
While Texas Mutual has awarded dividends each year since 1999, they are based on performance and therefore are not guaranteed. Additionally, dividends must follow Texas Department of Insurance regulations.
Source: Texas Mutual Insurance Co.
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