Austin, TX – Texas Mutual Insurance Company, a policyholder-owned company, recently awarded a dividend of $198,731 to the Texas Recreation 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.
“At Texas Mutual, we believe that companies should be rewarded when they make safety a priority,” said Texas Mutual President and CEO Rich Gergasko. “The Texas Recreation Safety Group has continued to do that year after year.”
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, Texas Recreation Safety Group members also receive discounts on their workers’ compensation premiums and have access to free workplace safety materials designed for their industry.
“No one wants to have an accident at work, especially not in an industry that provides fun and relaxation for its customers,” said Kevin Daniel, Texas Recreation Safety Group manager. “Fortunately, Texas Mutual provides safety tips that help keep this an enjoyable industry, and rewards good conduct with dividends like these.”
Texas Mutual has distributed $1.8 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