Austin, TX – Texas Mutual Insurance Company, a policyholder-owned company, recently awarded a dividend of $207,245 to the Texas Green Industry 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 strive to reward employers who make safety a priority,” said Texas Mutual President and CEO Rich Gergasko. “The Texas Green Industry safety group worked hard to mitigate workplace risk, and we’re proud to reward that dedication.”
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 Green Industry safety group members also receive discounts on their workers’ compensation premiums and have access to free workplace safety materials pertaining to landscaping, irrigation, contracting and other businesses in their industry.
“Working outside in Texas’ green industries can be difficult,” said Jessica Goehring, program manager of the Texas Green Industry safety group. “That’s why I’m glad that Texas Mutual offers the resources and support that companies need to keep their workers safe. These dividends are a reward for companies that have done just that.”
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