Austin, TX – Texas Mutual Insurance Company recently announced that the Texas Medical Group (TMG) has earned a $972,604 workers’ compensation dividend. The dividend is based largely on the group’s collective workplace safety record.
“Our members are devoted to delivering the best possible care to patients,” said Dana Rains, president of system development at Grace Health System in Lubbock. “To accomplish our goal, we must provide safe working environments for our health care professionals. These dividends from Texas Mutual speak volumes about TMG’s commitment to protecting its employees from on-the-job accidents.”
Grace Health System and other qualifying TMG members have shared in $4.6 million in Texas Mutual safety group dividends since 2008. Many members will also earn a share of the $175 million individual policyholder dividend Texas Mutual is distributing this year. Individual dividends are based largely on each policyholder’s safety record.
“Texas Mutual is on a mission to make our state a safer, more productive place to work,” said Bill Jackson, vice president of regional operations for Texas Mutual’s Dallas and Lubbock offices. “TMG members clearly share our vision. We thank them for investing the time and resources necessary to keep workers safe and on the job.”
Jackson noted that Texas Mutual cannot guarantee future dividends, but the company has a solid history of paying dividends when financial conditions allow.
Since 1999, Texas Mutual has distributed nearly $1.4 billion in safety group and individual dividends among qualifying policyholders. It has distributed the majority of that total – $1 billion – since 2007.
Source: Texas Mutual/ECPR