Austin, TX – Texas Mutual Insurance Company, a policyholder-owned company, recently awarded a dividend of $62,147 to the Texas Construction Supply safety group. The dividend was earned based on the group members’ dedication to making safety a priority in their businesses and therefore keeping the group’s loss ratio low.
“We have long made it a priority to reward those who partner with us to keep Texas workers safe,” said Texas Mutual President and CEO Richard Gergasko. “The construction industry is a major part of our state’s economy and we are proud to have an opportunity to partner with TCS to make a difference in the safety of its workers.”
Since 1999, Texas Mutual has distributed more than $125 million in safety group dividends among qualifying safety groups. Many group members also qualify for individual policyholder dividends from Texas Mutual based largely on their companies’ loss ratios.
In addition to potential dividends, TCS safety group members also receive discounts on their workers’ compensation premiums and have access to free workplace safety materials designed for the construction industry.
“Texas Construction Supply is proud that for the last six years, we have helped our safety group members save money through premium discounts while also keeping their workers safe,” said Gina O’Hara, program manager. “Texas Mutual has played a big part in our group members’ businesses and we appreciate the shared commitment of keeping employees safe on the job.”
Texas Mutual has distributed $1.6 billion in safety group and individual policyholder dividends since 1999. The majority of that total – $1 billion – has been distributed in the last seven years.
While Texas Mutual has awarded dividends each year since 1999, they are based on performance and therefore not guaranteed. Additionally, dividends must comply with Texas Department of Insurance regulations.
Source: Texas Mutual