Austin, TX – Texas Mutual Insurance Company, a policyholder-owned company, recently awarded a dividend of $212,978 to the Texas Cattle Feeders Association (CFA) 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.
“The Texas Cattle Feeders Association safety group has demonstrated its commitment to keeping workers safe and keeping costs low,” said Texas Mutual president and CEO Rich Gergasko. “We are happy to reward our policyholder partners who commit to those values.”
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, CFA safety group members also receive discounts on their workers’ compensation premiums and have access to free workplace safety materials designed for their industry.
“In Texas’ world-renowned cattle industry, we have a proud tradition of keeping workers safe,” said Janet Cooper, program manager. “Texas Mutual supports that tradition with invaluable safety services and by saving farms 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 are not guaranteed. Additionally, dividends must comply with Texas Department of Insurance regulations.
Source: Texas Mutual