Austin, TX – Texas Mutual Insurance Company, a policyholder-owned company, recently awarded a dividend of $158,072 to the Texas Sign Association 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 Sign Association has demonstrated its commitment to keeping workers safe and keeping costs low,” said Texas Mutual President and CEO Rich Gergasko. “The Texas Mutual dividend program is designed to reward such responsible policyholder partners.”
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, TXS safety group members also receive discounts on their workers’ compensation premiums and have access to free workplace safety materials designed for sign product manufacturers and sign service providers.
“Like Texas Mutual, the sign industry’s business is keeping people safe,” said Julie Schatz, program manager. “TXS is proud to partner with Texas Mutual to provide safety services to employees and save companies in the sign industry money through premium discounts.”
By the end of 2015, Texas Mutual will have distributed $1.8 billion in safety group and individual policyholder dividends since 1999.
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