Austin, TX – Texas Mutual Insurance Company, a policyholder-owned company, recently awarded a dividend of $690,350 to the Texas Machinery and Equipment Dealers (TME) 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 our policyholder partners who help us to keep Texas workers safe,” said Texas Mutual president and CEO Rich Gergasko. “We are proud to work with TME members to make a difference in the safety of machinery and equipment 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, TME safety group members also receive discounts on their workers’ compensation premiums and have access to free workplace safety materials designed for their industry.
“TME is proud to keep our workers safe and help our safety group members save money through premium discounts,” said Chris Roy, program manager. “Texas Mutual has been an invaluable partner in the safety of Texas workers.”
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