Today’s issue of WorkCompRecap features State Fund’s recent announcement that it plans to distribute a dividend of about $75 million to its qualifying policyholders with policies that took effect between January 1 and August 26, 2020.
The dividend equates to about 10% of the estimated annual premium reported during the period. State Fund also noted that its Board will consider dividends again for the remainder of the 2020 policy year later this year, and while it can’t guarantee future dividends, the mid-year declaration does not affect the possibility of a future payout for the remainder of the 2020 policy year. The dividend was attributed to both a strong, stable financial position and claims outcomes over the past several years.
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