Utah’s Workers Compensation Fund has declared a $20 million dividend that will be distributed to a majority of policyholders this August. Policyholders can expect to receive 9.25 percent of their earned premium attributable to the 2004 calendar year.
“The dividend is a result of a phenomenal year in 2004,” said WCF President Lane Summerhays. “Our policyholders have worked hard to implement safety programs and preventive measures to keep workers safe and accidents low. This dividend is a direct result of their efforts.”
With this distribution, WCF will have returned more than $209 million in dividends to its policyholders since 1991. Dividends are paid from WCF’s surplus, which is created from the company’s operational efficiencies and investment portfolio performance.
“We are pleased to be in a position to share our financial results with our loyal policyholders, who are the owners of our company,” Summerhays said. “We are committed to remain financially strong by continually implementing innovative business practices and helping policyholders create a safer workplace.”
“It’s great to partner with an insurance company that actually is willing to give back a portion of premiums because we’ve kept employees safe. It’s encouraging because it’s one more reason to invest in safety,” said Hunter Douglas Intermountain Safety Manager, Brian Lichtenfels.
Topics Workers' Compensation New Markets
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