Texas Mutual Insurance Company’s board of directors has approved a $75 million individual policyholder dividend. The company plans to mail dividend checks in late July to approximately 37,000 employers, representing 77 percent of its policyholders.
The amount of each qualifying policyholder’s dividend check will be based largely on its premium size and loss ratio. Policyholders who prevent workplace accidents and control claim costs improve their chances of earning a dividend.
Texas Mutual offers free services to help policyholders improve their safety programs. Employers can visit the safety resource center at texasmutual.com to evaluate their safety program, correct the root causes of accidents and get training materials from the multimedia resource library. The company also offers free workshops that feature presentations by Texas Mutual safety professionals.
This year’s dividend represents the company’s 11th consecutive dividend.
Texas Mutual said the dividends indicate policyholders are embracing its initiatives to prevent accidents and control costs, such as the establishment of its workers’ compensation health care network. The company launched the network in 2006 to help injured workers get quality medical care, recover and return to productive employment.
The second annual network report card issued by the Texas Department of Insurance in October 2008 showed that medical costs on Texas Mutual’s in-network claims are 6 percent lower than non-network claims. Patients treated in the network return to work an average of 24 percent sooner than non-network patients, the company noted.
Source: Texas Mutual Insurance Company, www.texasmutual.com
Topics Texas
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