Phoenix, AZ – SCF Arizona recently announced it will pay out safety dividends totaling $3.5 million for 2011 to qualified policyholders. It is the 41st consecutive year, the company’s Board of Directors approved a dividend payment.
The state’s largest provider of workers’ compensation insurance began paying safety dividends in 1969, and since that time has returned more than $1.5 billion to qualified policyholders who maintain safe workplaces.
“Despite the continued slow economic recovery, SCF Arizona is pleased that we were able to once again return $3.5 million to qualified policyholders, who are our partners in keeping workers safe. We know that in paying these dividends, the money will be well spent in our customers’ local communities, further aiding Arizona’s economic recovery,” said SCF Board Chair Judith Patrick.
The amount paid to each qualified policyholder will depend on its annual premium and record of workplace injury claims.
SCF Arizona President & CEO Don Smith noted that policyholders in three of SCF Arizona subsidiaries – SCF Premier Insurance Co., SCF American Insurance Co., and SCF Western Insurance Co. – receive upfront savings on their premiums rather than a dividend payment at the back end.
“Dividends are never guaranteed,” Smith said. “The Board bases its decision on SCF’s financial performance for the year and the conditions in the marketplace.
“In approving this dividend payout for 2011, the Board’s action reflects SCF Arizona’s commitment to support local businesses and allows us to reward our safest customers,” Smith added. “We could not provide this dividend without the efforts of our employees and our Board to emphasize the importance of workplace safety and quality claims management.
“But mostly, the customers who have earned a safety dividend have done so by their continuous efforts to keep their employees safe, and that in turn helps us to keep Arizona premiums among the lowest in the nation,” Smith said.
Source: SCF AZ