Texas Mutual Delivers $281K Boost to Social Service Agencies

Texas Mutual Insurance Company, working in partnership with Care Providers Insurance Services, announced today that the Social Service Agencies of Texas (SSA) safety group has earned a $280,638 dividend.

The workers’ compensation dividend was based largely on the group’s overall safety record.

“Social service agencies operate on lean budgets, and every dollar counts,” said Randall Hedlund, director of Care Providers Insurance Services, the SSA safety group administrator. “We’re very proud of our group’s safety record, and dividends help our members continue to deliver much-needed services to the people of Texas.”

Since 2005, Texas Mutual has paid nearly $2 million in group dividends to SSA members. That total is in addition to individual policyholder dividends group members have earned. Individual dividends are based largely on each policyholder’s safety record.

Unlike publicly traded insurance companies, mutual insurance companies are owned by their policyholders. Dividends allow Texas Mutual to share its financial success with its policyholder owners.

By the end of the year, Texas Mutual will have paid $1.2 billion in dividends. The majority of that total – more than $1 billion – will have been paid since 2005.

Texas Mutual notes that past dividends are not a guarantee of future dividends. The Texas Department of Insurance must approve all dividends.

(L-R) Willis Tran and Priscilla Archer, marketing associates at Care Providers Insurance Services; Steve Math, senior vice president of underwriting at Texas Mutual; and Bill Jackson, Texas Mutual underwriting manager

Advertisements

One Response to Texas Mutual Delivers $281K Boost to Social Service Agencies

  1. Pingback: NEWS HEADLINES

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: