Texas Mutual Insurance Company announced a $669,540 dividend to the Texas Restaurant Association (TRA) workers’ compensation safety group. The dividend was based largely on the group’s overall loss ratio.
“Texas Mutual has a permanent, vested interest in helping our state’s employers succeed,” said Richard Gergasko, Texas Mutual president and CEO. “When we have the opportunity to reward long-term partners like TRA for their commitment to workplace safety, we consider it money well-spent.”
Since 1999, Texas Mutual has distributed nearly $20 million in safety group dividends among qualifying TRA members. Many group members also qualify for individual policyholder dividends from Texas Mutual based largely on their companies’ loss ratios.
“TRA has been advocating on behalf of Texas restaurateurs for more than 75 years,” said Richie Jackson, TRA CEO. “This partnership with Texas Mutual gives us another tool for helping our members increase sales, reduce expenses and improve profitability. Dividends are just one benefit our members enjoy when they join the TRA/Texas Mutual safety group.”
In addition to potential dividends, TRA safety group members get discounts on their workers’ compensation premiums. They also have access to free workplace safety materials designed for the restaurant industry.
Texas Mutual has distributed nearly $1.4 billion in safety group and individual policyholder dividends since 1999. It has distributed $1 billion of that total since 2007.
Texas Mutual notes that dividends are based on performance, are not guaranteed and must comply with Texas Department of Insurance regulations.
Source: Texas Mutual Insurance Company
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