The Texas Machinery and Equipment Dealers (TM&E) workers’ compensation purchasing group is receiving a $45,697 from Texas Mutual Insurance Company. It is the group’s first dividend and was based largely on its first-year premium volume and loss ratio, Texas Mutual said.
Texas Mutual Insurance Company underwrites TM&E, and The Roy Agency administers it. TM&E is open to qualifying machinery and equipment dealers, including farm and industrial machinery, packaging machinery, construction machinery and lift truck drivers. Any licensed Texas agent can submit clients for consideration.
In addition to potential dividends, TM&E members get a premium discount and an industry-specific safety plan.
Texas Mutual Insurance Company has declared nearly $37 million in dividends to members of its group discount programs since 1999.
Source: Texas Mutual Insurance Company, www.texasmutual.com
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