Workers’ compensation insurance provider, Texas Mutual Insurance Company, has begun distributing approximately $1 million in dividends among nearly 2,600 first-year policyholders across the state. In total, Texas Mutual’s dividend payout for 2009 is $75 million.
“We have a permanent, vested interest in helping Texas businesses thrive,” said Bob Barnes, chairman of Texas Mutual’s board of directors. “We have pumped more than $670 million into our state’s economy through our individual policyholder dividend plans since 1999. Our policyholders have used those funds to expand their businesses, create jobs, pay skilled employees and improve their safety programs.”
Dividends are based largely on each policyholder’s loss ratio. Policyholders who focus on preventing workplace accidents and helping injured workers get well and back on the job improve their chances of earning a dividend.
The first-year policyholder dividends represent the final component of Texas Mutual’s $75 million 2009 dividend distribution. Approximately 38,000 business owners across the state, representing 79 percent of the company’s policyholders, earned a dividend.
Texas Mutual 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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