View this article online: https://www.insurancejournal.com/news/west/2014/11/18/347352.htm
Workers Compensation Fund in Utah has declared a second dividend in 2014.
The $9 million dividend represents 5 percent of premium collected from July 1, 2013 to June 30, 2014. With this second dividend, WCF will have paid 10 percent and returned more than $19 million in premium for 2014. WCF will also have returned more than $369 million in dividends to policyholders since 1992, according to the organization.
According to WCF President and CEO Ray Pickup, claims greater than $500,000 are down 55 percent and fatalities are down 33 percent.
Pickup also said favorable investment results are a major contributor to the dividend.
More than 19,000 businesses in Utah will receive a portion of the $9 million policyholder dividend.
WCF is owned by its policyholders and governed by a board of directors. It is rated A (Excellent) by the A.M. Best Co.