Austin, TX – Texas Mutual Insurance Company, a policyholder-owned company, recently awarded a dividend of $721,113 to the Lone Star Auto Dealers (LSA) 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 good safety practices should be rewarded,” said Texas Mutual President and CEO Rich Gergasko. “This dividend recognizes the safe practices of LSA safety group employers who are committed to workplace safety.”
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, LSA safety group members also receive discounts on their workers’ compensation premiums and have access to free workplace safety materials related to their industry.
“Texas Mutual offers valuable information that helps keep auto dealers in this state safe,” said Brad Wicker, LSA program manager. “Their premium discounts and safety services help group members save money on their workers’ compensation insurance and keep the cost of doing business low.”
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 not guaranteed. Additionally, dividends must comply with Texas Department of Insurance regulations.
Source: Texas Mutual