Dallas-based Hotchkiss Insurance Agency LLC announced a $105,407 dividend to the Texas Home Builders Workers’ Comp (THB-WC) purchasing group. The group’s premium volume and loss ratio were factors in determining its dividend.
The THB-WC group, formed in September 2005 exclusively for home builders in Texas, provides qualifying members with a competitive option for workers’ compensation coverage. The announcement marks the second dividend payment for the group by Texas Mutual Insurance Company, the program underwriter. Hotchkiss Insurance is the administrator of the group.
The Texas Department of Insurance (TDI) allows employers in similar industries to reduce their workers’ comp premiums by purchasing their coverage as a group. The THB-WC Group is a TDI-approved purchasing group that is open to most residential general contractors, which includes home builders, engineers, architects and interior carpentry firms.
Any licensed Texas insurance agent may submit a qualifying client for consideration in the group. Texas Mutual notes that past dividends are not a guarantee of future dividends, and TDI must approve all dividends.
Source: Hotchkiss Insurance Agency, www.hiallc.com
Was this article valuable?
Here are more articles you may enjoy.