AUSTIN, Texas – Texas Mutual Insurance Company announced today that two National Federation of Independent Business (NFIB) group discount programs earned a combined $908,586 in workers’ compensation dividends. Both dividends were based largely on each group’s overall loss ratio.
The larger dividend – $693,148 – went to the NFIB group discount program for the construction industry. The NFIB construction group has earned $2,911,463 in dividends from Texas Mutual since 2003.
Meanwhile, members of the NFIB group discount program for wholesale/retail businesses shared in a $215,438 dividend, bringing their Texas Mutual dividend total to $1,321,362 during the past five years.
“The Texas economy has fared better than most during the recession, but we have not been immune to market fluctuations,” said Will Newton, executive director of NFIB Texas. “Small businesses have been hit especially hard. These dividends will boost our members’ bottom lines and help them weather the difficult economy.”
Any licensed Texas agent can submit qualifying clients for consideration in the NFIB construction group and NFIB wholesale/retail group, as well as a third group for the manufacturing industry. In addition to potential dividends, NFIB group members get a discount on their workers’ compensation premium and access to industry-specific workplace safety resources at texasmutual.com.
For more information about NFIB/Texas Mutual purchasing groups, visit texasmutual.com/agents/group.shtm or nfib.com/txmutual.
Past dividends are not a guarantee of future dividends. The Texas Department of Insurance must approve all dividends.
About Texas Mutual Insurance Company
Austin-based Texas Mutual Insurance Company is the state’s leading provider of workers’ compensation insurance, with approximately 30 percent of the market. Since 1991, the company has provided a stable, competitively priced source of workers’ comp insurance for Texas employers. Texas Mutual underwrites 28 workers’ compensation purchasing groups representing a range of industries, including oil and gas, manufacturing, construction and health care. For a complete list of open purchasing groups, visit texasmutual.com/agents/group.shtm.
SOURCE: Texas Mutual