Austin, TX – Texas Mutual Insurance Company, a policyholder-owned company, recently awarded a dividend of $243,045 to the Emergency Services Organization 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.
“These professionals put themselves at risk to help others,” said Texas Mutual President and CEO Rich Gergasko. “We want to do everything we can to help keep them safe on the job. This dividend is a reflection 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, Emergency Services Organization safety group members also receive discounts on their workers’ compensation premiums and have access to free workplace safety materials designed for their industry.
“Safety is, of course, a top concern for emergency responders,” said ESO safety group manager Barbara Marzean. “We appreciate that Texas Mutual rewards its policyholders when they work safely.”
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