Salt Lake City, UT – Workers Compensation Fund has declared a $12 million dividend that will be distributed to a majority of policyholders this May. Policyholders can expect to receive a dividend equal to 6 percent of their 2014 premium.
“Policyholders are receiving a dividend because we had better than expected investment and underwriting results in 2014,” said WCF CEO and President, Ray Pickup. “Severe injuries declined, the overall number of claims decreased, and the amount of payroll insured by WCF increased because of Utah’s robust economy. And when we as a company do well, we share the results with our policyholders.”
With this distribution, WCF will have returned more than $382 million in dividends to its policyholders since 1992—giving back 36% of operating income (almost 9% of net earned premiums) to its policyholders.
“No other carrier in the marketplace has been able to provide this type of return to their policyholders. We also continue to have some of the lowest rates in the country,” said Ray Pickup, WCF CEO and president. “We continually strive to keep our rates low with safety and managed care programs. The results have paid off for us and our policyholders.”
More than 19,000 businesses in Utah will receive a portion of the $12 million policyholder dividend.