Workers’ Compensation insurer Texas Mutual Insurance Company announced an $83,718 dividend to the Texas Lumber and Wood Products (TLWP) purchasing group.
The dividend is based largely on TLWP’s favorable loss ratio. Though past dividends are not a guarantee of future dividends, by committing to workplace safety and helping injured workers return to productive employment, the group improves its chances of qualifying for future dividends.
TLWP members are also eligible to participate in Texas Mutual’s individual policyholder dividend program. The company has distributed more than $670 million in individual dividends since 1999.
Texas law allows employers in similar industries to buy their workers’ comp insurance as a group.
TLWP is open to loggers, sawmills and most forms of wood products manufacturing, including window, door, casing, cabinet and truss manufacturers.
Group members get a discount on their workers’ comp premium and an industry-specific safety plan.
Any licensed Texas agent can submit clients for consideration.
Source: Texas Mutual Insurance Company, www.texasmutual.com
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