Lexington, KY – Kentucky Employers’ Mutual Insurance (KEMI) announced that it will issue a dividend for current policyholders who meet eligibility criteria for the 2011 policy year.
Dividend payments are currently being calculated and will reward KEMI policyholders who have demonstrated their commitment to workplace safety and effective claims management. Qualifying policyholders will receive a dividend amounting to 5% of their 2011 policy year premium.
The decision by KEMI’s Board of Directors followed an extensive review by independent actuaries who analyzed several factors, including KEMI’s policyholder equity, loss exposure, and overall financial performance.
Additionally, KEMI plans to file for an overall rate reduction of 5% effective January 1, 2015. The plan was approved by KEMI’s Board of Directors and will be submitted to the Kentucky Department of Insurance for review and approval.
“These returns are a result of employers and employees working together with KEMI to build safer workplaces,” said Jon Stewart, President and CEO of KEMI. “While many of our policyholders will reinvest this money for new safety initiatives, we also believe our actions will help businesses grow and boost Kentucky’s economy.”
Source: KEMI