A prominent Texas workers’ compensation insurer has this month mailed dividend checks totaling $240 million to more than 45,000 of its policyholders.
Texas Mutual Insurance Company has awarded the cash each year since 1999 to companies who have shown dedication to making safety a priority in their businesses, totaling roughly $2 billion.
Among the most prominent award recipients was Texas Cattle Feeders Association, which received a dividend of $176,118 to its workers’ compensation safety group. The association helped Texas Mutual keep its loss ratio down, the carrier said.
In addition to potential dividends, award recipients may also receive discounts on their workers’ comp premiums and have access to free workplace safety materials designed for the industry.
The dividends are based on performance (loss ratio), customer loyalty and must comply with Texas Department of Insurance regulations, Texas Mutual said.
