Lone Star Auto Dealers Earn $262K Dividend
Texas Mutual Insurance Company announced a group dividend of $262,472 to the Lone Star Auto Dealers purchasing group yesterday. The dividend covers three policy periods from January 1, 2002 through December 31, 2004.
The group dividends are separate from the $50 million of individual dividends that Texas Mutual Insurance Company awarded to qualifying policyholders in July. Some Lone Star Auto Dealers members may earn a share of both dividends.
The Wicker-Parker Insurance Agency of Abilene established the group, which is open to any new car or truck dealership in Texas. Any licensed insurance agent can place a qualifying client into the group, with approval from a Texas Mutual® underwriter.
Each member receives a premium discount, based on an estimate of the group’s total written premium. The group also benefits from an industry-specific safety plan as well as expert claim and loss prevention services from Texas Mutual Insurance Company.
Texas Mutual Insurance Company notes that past dividends are not a guarantee of future dividends, and the Texas Department of Insurance must approve all dividend plans.