Austin, TX – Texas Mutual Insurance Company, a policyholder-owned company, recently awarded a dividend of $117,226 to the Texas Home Builders (THB) 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.
“Keeping workers safe is our number one priority at Texas Mutual, and we pride ourselves on rewarding employers who do it best,” said Texas Mutual president and CEO Rich Gergasko. “We are proud to work with THB members to protect the workers who build the homes Texans live in.”
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, THB 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 Mutual has been an invaluable partner in keeping Texas home builders safe,” said Anne Sheahan, program manager. “THB is proud not only of our safety record but also of helping our safety group members save money through premium discounts.”
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