Texas Mutual Insurance Company announced a $498,348 dividend to the Texas Schools Group (TSG) workers’ compensation purchasing group and a $65,128 dividend to the Texas Association of Manufacturers (TAM) purchasing group.
TSG administrator Perry Hunter Hall Inc. will distribute the dividend among the group’s members.
Group dividends are based largely on the group’s overall loss ratio. TSG has earned nearly $830,000 in group dividends since 2005. Many members have also qualified for individual dividends by controlling their personal loss ratios.
TAM teamed up with Texas Mutual Insurance Company in 2006, giving its members a premium discount and access to a safety plan developed specifically for their industry. TAM is an open program, which means any licensed Texas insurance agent can submit qualifying clients for consideration. TAM is open to most manufacturing classification codes.
The two are among 25 purchasing groups Texas Mutual offers.
Texas Mutual Insurance Company notes that past dividends are not a guarantee of future dividends, and the Texas Department of Insurance must approve all dividends.
Source: Texas Mutual Insurance Company, www.texasmutual.com
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