Texas Mutual Insurance Company, a policyholder-owned company, recently paid a dividend of $441,774 to the Lone Star Auto Dealers safety group, bringing the total dividend payout for this group to almost $6 million. The dividends earned are based largely on the group members’ dedication to making safety a priority in their businesses and therefore keeping the group’s loss ratio low.
“We have long made it a priority to reward those who partner with us to keep Texas workers safe,” said Texas Mutual President and CEO Richard Gergasko. “We appreciate that the Lone Star Auto Dealers safety group has worked with us for the past several years to help its members create safe work environments for employees.”
Since 1999, Texas Mutual has distributed nearly $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.
The Lone Star Auto Dealers safety group provides workers’ comp solutions to auto, truck, RV, boat and motorcycle dealerships. In addition to potential dividends, safety group members get discounts on their workers’ compensation premiums and have access to free workplace safety materials designed for the dealership industry.
“Lone Star Auto Dealers Association is proud that we have helped our safety group members save money with premium discounts while keeping their workers safe,” said Program Manager Brad Wicker. “Texas Mutual and the Lone Star Auto Dealers Safety Committee have been invaluable partners in making Texas dealerships safe places to work.”
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 are not guaranteed.