| Summer 2008
Ten Things You Should Know About Dividends
In July, Texas Mutual Insurance Company began distributing $150 million in dividends among approximately 38,000 qualifying policyholders. If you are one of them, congratulations. Here are 10 things you should know about your dividend check.
1. Our dividends are different. When publicly owned corporations pay dividends, all stockholders receive a dividend based on the number of shares they own. When Texas Mutual pays dividends, we reward specific policyholders based on customer loyalty and claim loss history.
2. You earned it. If you got a dividend check, you earned it by preventing accidents, helping injured workers return to the job, and controlling your claim costs.
2. You earned it. If you got a dividend check, you earned it by preventing accidents, helping injured workers return to the job, and controlling your claim costs.
3. Thank your agent. Your agent had your best interests in mind when he or she placed you with Texas Mutual Insurance Company. Dividends are just one of many reasons that agents have made Texas Mutual the state’s leading provider of workers’ compensation insurance. Other reasons include our safety programs, our focus on managing claim costs and our zero tolerance for fraud policy.
4. Loyalty is key. Our dividend plan rewards you for up to five consecutive years of acceptable loss ratios. Your dividend earning potential increases each year. If you leave Texas Mutual before the fifth year, you start from square one when you return.
5. Cash your check as soon as possible. Dividend checks are good for 60 days. If you do not cash the check in time, call us at (800) 859-5995, and ask our representative to reissue your check.
6. New policyholders can earn dividends, too. The early-qualifier portion of our dividend plan rewards first-year policyholders who have acceptable loss ratios. We plan to mail early-qualifier dividend checks in November.
7. We also pay group dividends. State law allows employers in similar industries to reduce their premiums by joining safety groups. Members may earn group and individual dividends. Ask your agent for more information about the 27 groups offered through Texas Mutual Insurance Company.
8. Your dividend might be taxable. We recommend that you consult a tax professional for more information.
9. Dividends are not guaranteed. State law prohibits insurance carriers from guaranteeing dividends. Texas Mutual Insurance Company is, however, committed to sharing its success with policyholders when financial conditions allow.
10. More information is available online. If you have questions about dividends, visit the News & Publications section at texasmutual.com. You can also ask your agent or call Texas Mutual at (800) 859-5995.
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