| Summer 2009
Ten Things You Should Know About Dividends
In July, Texas Mutual Insurance Company began distributing $75 million in dividends among approximately 37,000 qualifying policyholders. If you are one of them, congratulations. Here are 10 things you should know about your dividend.
If you have questions, ask your agent, visit www.texasmutual.com or call Texas Mutual at (800) 859-5995.
- Thank your agent. Your agent had your best interests in mind when he or she placed your coverage with Texas Mutual. Dividends are just one of many reasons agents have made us the state’s leading provider of workers’ compensation insurance. Other reasons include our safety programs, our claim-management techniques and our zero tolerance for fraud policy.
- You earned it. A dividend is essentially a monetary reward for policyholders who share our commitment to making Texas a safer, more productive place to work and do business. If you got a dividend check, you earned it by preventing accidents and helping injured employees return to work.
- Dividends provide relief in a difficult
economy. Since 1999, Texas Mutual has pumped
$731 million into the Texas economy through our
dividend programs. The money has provided
welcome relief for entrepreneurs such as Gerard
Cace of Johnny Cace’s Seafood & Steakhouse in
Longview.
“Nearly 1 million people work in our industry, and that number is expected to grow to 1.2 million by 2018,” said Cace. “Dividends help us continue to pay skilled food service professionals in difficult economic conditions.” - Texas Mutual is financially stable. Financial stability is our first responsibility to our policyholders and their employees. We are not immune to the volatility in the markets, but because we operate efficiently, effectively and responsibly, we are able to pay our 11th policyholder dividend. If other carriers abandon you, we will be here to help you prevent accidents, control your premium, fight workers’ compensation fraud and return injured workers to productive employment.
- 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 through your fifth year with Texas Mutual. If you leave before the fifth year, your dividend earning cycle starts over if you return.
- Cash your check as soon as possible. Dividend checks are good for 90 days. If you do not cash the check in time, call us at (800) 859-5995, and ask our representative to reissue your check.
- 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.
- We also pay group dividends. State law allows employers in similar industries to reduce their premiums by joining group discount programs. Members may earn group and individual dividends. Ask your agent for more information about the 27 groups offered through Texas Mutual Insurance Company.
- Your dividend might be taxable. We recommend that you consult a tax professional for more information.
- Dividends are not guaranteed. State law prohibits insurance carriers from guaranteeing dividends. Texas Mutual is, however, committed to sharing its success with policyholders when financial conditions allow.
COMPNEWS - Summer 2009
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