Salt Lake City-based Workers Compensation Fund announced that it will pay dividends totaling $20 million to policyholders this year.
All eligible policyholders, regardless of company or policy size, will receive a portion of the dividend by August 2004.
“The $20 million dividend is a credit to WCF’s policyholders, and our employees, who have worked together to improve workplace safety statewide,” said Lane Summerhays, president and CEO of Workers Compensation Fund. “We are pleased to share our excellent financial results with our policyholders, who are the owners of the company.”
Summerhays cites lower-than-anticipated workplace injury claims as the primary reason for the year’s financial success. WCF had about 8 percent fewer claims reported in 2003 than in 2002 as well as a reduction in the number of very serious injuries reported. Other factors, such as WCF’s Medical Management team also contributed to helping injured workers recover and return to work sooner.
“We are seeing more employers invest in workplace safety programs offered by WCF’s staff of safety experts, which has played a role in fewer injury claims. From construction to manufacturing to office environments, improved safety affects employee well-being, as well as a company’s bottom line. We encourage even more employers to take advantage of WCF’s valuable workplace safety programs,” Summerhays said.
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