Texas Mutual pays $934,668 dividend to Lone Star Auto Dealers Safety Group
Austin, Texas – Texas Mutual Insurance Company, a policyholder-owned company, recently awarded a dividend of $934,668 to the Lone Star Auto Dealers (LSA) safety group, which includes franchised auto, truck, RV, boat and motorcycle dealerships. The dividend was earned based on the group members’ dedication to making on-the-job safety a priority, which kept the group’s loss ratio low.
“We’re always proud to return dividends to businesses such as these that demonstrate a commitment to safety,” said Texas Mutual President and CEO Rich Gergasko.
Since 1999, Texas Mutual has distributed more than $170 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 group members also receive discounts on their workers’ compensation premiums and have access to free workplace safety materials pertaining to their industry.
“The motor vehicle sales industry is big business in Texas, and it’s important that the many workers involved stay safe, from the showroom to the garage,” said LSA Program Manager Brad Wicker. “This dividend is proof that the members of the Lone Star Auto group are committed to safety.”
Texas Mutual has distributed more than $2.2 billion in safety group and individual policyholder dividends since 1999. While Texas Mutual has awarded dividends each year since 1999, they are based on performance and therefore are not guaranteed. Additionally, dividends must comply with Texas Department of Insurance regulations.
About Texas Mutual Insurance Company
Austin-based Texas Mutual Insurance Company, a policyholder-owned company, is the state’s leading provider of workers’ compensation insurance. Texas Mutual provides coverage to 40 percent of the market, representing over 64,000 companies, many of which are small businesses. Since 1991, the company has provided a stable, competitively priced source of workers’ comp insurance for Texas employers. Helping employers prevent workplace accidents is an important part of Texas Mutual’s mission.