Texas Mutual pays $721,114 dividend to Lone Star Auto Dealers Safety Group
Austin, Texas – Texas Mutual Insurance Company, a policyholder-owned company, recently awarded a dividend of $721,114 to the Lone Star Auto Dealers Association (LSA) safety group. The dividend was earned based on the group members’ dedication to making safety a priority in their businesses and therefore keeping the group’s loss ratio low.
“Texas Mutual believes in rewarding our policyholder partners who value worker safety,” said Texas Mutual President and CEO Rich Gergasko. “The Lone Star Auto Dealers Association safety group makes sure their employees stay safe helping Texans find cars.”
Since 1999, Texas Mutual has distributed more than $125 million in safety group dividends among qualifying safety groups. Many group members also qualify for individual policyholder dividends from Texas Mutual based largely on their companies’ loss ratios.
In addition to potential dividends, LSA safety group members also receive discounts on their workers’ compensation premiums and have access to free workplace safety materials designed for the auto dealer industry.
“Texas Mutual safety services offers valuable information that helps keep LSA employees safe,” said Brad Wicker, program manager. “Their premium discounts and safety services help group members save money on their workers’ compensation insurance and keep the cost of doing business low.”
Texas Mutual has distributed $1.6 billion in safety group and individual policyholder dividends since 1999. The majority of that total – $1 billion – has been distributed in the last seven years.
While Texas Mutual has awarded dividends each year since 1999, they are based on performance and therefore not guaranteed. Additionally, dividends must comply with Texas Department of Insurance regulations.