Salem, OR – SAIF recently announced that its board of directors declared a $135 million dividend for its policyholders. This marks the 14th year in a row SAIF has been able to offer a dividend, and the 26th dividend since 1990.
SAIF is one of the only insurance carriers in Oregon that has regularly returned dividends to employers. As a not-for-profit with a public mission to make workers’ compensation coverage available, accessible, and affordable, it’s an important part of our value to policyholders.
“Serving our customers with expertise and heart is at the core of what we do,” said Chip Terhune, president and CEO of SAIF. “We have carefully considered current economic trends and believe it is right that we offer this dividend to our employers.”
SAIF determines whether a policyholder dividend is appropriate based on capital levels, claim trends, and the overall economic environment.
This year, SAIF is able to pay dividends because of its solid financial standing and continued success in managing workplace safety and health and controlling losses.
“In addition to dividends, we are proud to offer the largest network of workplace safety professionals of any insurance carrier in Oregon,” said Terhune. “Our vision is to make Oregon the safest and healthiest place to work, and we appreciate our policyholders’ efforts to ensure their workers go home safely at the end of each day.”
52,023 policyholders will receive the dividend. The dividend will be based on premium for policies whose term ended in 2022 and will be distributed in October.