Austin, TX – Texas Mutual Insurance Company, a policyholder-owned company, recently awarded a dividend of $630,460 to the Social Services Agencies of Texas (SSA) 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.
“Texas Mutual is proud to reward a dividend to the groups that do so much for our communities,” said Texas Mutual president and CEO Rich Gergasko. “Social Services Agencies of Texas safety group has made it a priority to help keep their members’ employees safe. We’re happy to support and recognize their efforts.”
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, SSA safety group members also receive discounts on their workers’ compensation premiums and have access to free workplace safety materials designed for social services workers.
“Texas Mutual’s safety services and premium discounts help group members keep their employees safe,” said Randy Hedlund, program manager. “They are an invaluable partner to SSA’s mission of community support.”
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