Austin, TX – Texas Mutual Insurance Company, a policyholder-owned company, recently awarded a dividend of $522,680 to the Texas Alliance of Energy Producers 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.
“Safety is our top priority,” said Texas Mutual president and CEO Rich Gergasko. “As the Texas energy boom brings more business to our state, it’s important that we reward policyholders who share Texas Mutual’s passion for workplace safety.”
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, safety group members also receive discounts on their workers’ compensation premiums and have access to free workplace safety materials designed for their industry.
“Texas Mutual is an invaluable partner to the Texas Alliance of Energy Producers” said Curtis Heptner, program manager. “Their premium discounts and safety services help group members save money on their workers’ compensation insurance and keep their employees safe.”
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