Austin, TX – Texas Mutual Insurance Company, a policyholder-owned company, recently awarded a dividend of $176,118 to the Texas Cattle Feeders Association workers’ compensation 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.
“This is an iconic industry in Texas and we are happy to help these businesses stay safe,” said Texas Mutual President and CEO Rich Gergasko. “The members of the Texas Cattle Feeders Association have earned this dividend because of their commitment to 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, Texas Cattle Feeders Association safety group members also receive discounts on their workers’ compensation premiums and have access to free workplace safety materials designed for their industry.
“With its easily-available safety resources, Texas Mutual is a great help as we strive to maintain safety for everyone in this industry, including feed manufacturers, livestock sales companies and drivers,” said Janet Cooper, Texas Cattle Feeders Association safety group manager.
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