Salem, OR – The SAIF board of directors recently declared a $75 million dividend for its policyholders.
SAIF determines whether a policyholder dividend is appropriate based on capital levels, claim trends, and the overall economic environment.
“Like all Oregon businesses, SAIF is cautious about current economic trends,” said Chip Terhune, president and CEO of SAIF. “However, after careful consideration, we felt declaring this dividend was the right thing to do to serve our policyholders.”
The dividend will be based on premium for policies whose term ended in 2021 and will be distributed in October. This is the 13th year in a row SAIF has been able to offer a dividend, and the 25th dividend since 1990.
As a not-for-profit with a public mission to make workers’ compensation coverage available, accessible, and affordable, SAIF is one of the only insurance carriers in Oregon that has regularly returned dividends to policyholders. For SAIF, it’s an important part of our value to customers.
SAIF is able to pay dividends because of its solid financial position and continued success in managing workplace safety and health and controlling losses.
50,960 policyholders will receive the dividend.