NFIB, Texas Mutual Partnership Pays $1.2M in Dividends
December 29, 2009 - Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, announced that two National Federation of Independent Business (NFIB) purchasing groups have earned a combined $1,207,595 in dividends. The dividends are based largely on each group’s favorable loss ratio.
The largest dividend, $918,816, went to the NFIB Construction purchasing group. The group has earned more than $2.2 million in dividends since 2003.
The NFIB Wholesale/Retail purchasing group earned a $288,779 dividend, bringing its total to $1.1 million since 2006.
By committing to workplace safety and helping injured workers return to productive employment, NFIB purchasing group members improve their chances of qualifying for future dividends.*
Any licensed Texas agent can submit qualifying clients for membership in NFIB Construction, NFIB Wholesale/Retail and any of the 27 purchasing groups underwritten by Texas Mutual. For more information, visit texasmutual.com/agents/group.shtm.
*Past dividends are not a guarantee of future dividends. The Texas Department of Insurance must approve all dividends.
Texas Mutual Insurance Company Raises
Record-Breaking Donation for United Way
December 19, 2009 - Texas Mutual Insurance Company, the leading provider of workers’ compensation insurance in Texas with regional offices in Austin, Houston, Dallas and Lubbock, raised $148,736 for United Way this year, breaking its previous record of $146,338 raised in 2008.
“With the current state of the economy, we would have been thrilled to reach our goal of $135,000,” Ron Wright, president and CEO of Texas Mutual Insurance Company, said. “To have a record-breaking performance is remarkable, and it is entirely thanks to the dedication and giving hearts of our employees.”
Texas Mutual’s 800 employees raised funds for United Way in 2009 through individual contributions, raffles, sporting events and even songfests.
To date, Texas Mutual has raised more than $1.3 million for United Way.
“The generosity and perseverance of Texas Mutual employees will go a long way in helping United Way address needs in three key areas across the state—education, financial stability, and health and wellness,” said Wright.
Construction Supply Group Earns First Texas Mutual Dividend
December 15, 2009 - Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, announced a $10,674 dividend to the Texas Construction Supply (TCS) purchasing group today. The group’s first dividend was based largely on its favorable loss ratio.
By committing to workplace safety and helping injured workers return to productive employment, TCS improves its chances of qualifying for future dividends.*
Get more information about dividends at texasmutual.com/news/dividendhistory.shtm.
TCS members are also eligible to participate in Texas Mutual’s individual policyholder dividend program. The company has distributed more than $670 million in individual dividends since 1999:
- Texas law allows employers in similar industries to buy their workers’ comp insurance as a group.
- TCS is open to qualifying supply yards, building material centers and other wholesale/retail suppliers.
- Group members get a discount on their workers’ comp premium and an industry-specific safety plan.
- Any licensed Texas agent can submit clients for consideration in the group.
*Past dividends are not a guarantee of future dividends. The Texas Department of Insurance must approve all dividends.
Recreation Group Earns First Texas Mutual Dividend
December 10, 2009 - Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, announced a $90,643 dividend to the Texas Recreation Purchasing Group (TRPG) today. The group’s first dividend was based largely on its favorable loss ratio.
By committing to workplace safety and helping injured workers return to productive employment, TRPG improves its chances of qualifying for future dividends.*
Get more information about dividends at texasmutual.com/news/dividendhistory.shtm.
TRPG members are also eligible to participate in Texas Mutual’s individual policyholder dividend program. The company has distributed more than $670 million in individual dividends since 1999:
- Texas law allows employers in similar industries to buy their workers’ comp insurance as a group.
- TRPG is open to qualifying golf clubs, country clubs, health clubs, tennis clubs, fishing clubs, bowling centers and others in the recreation industry.
- Group members get a discount on their workers’ comp premium and an industry-specific safety plan.
- Any licensed Texas agent can submit clients for consideration in the group.
*Past dividends are not a guarantee of future dividends. The Texas Department of Insurance must approve all dividends.
Court Orders Dallas-Area Employer to Repay Nearly $1M to Texas Mutual
December 3, 2009 - Texas Mutual Insurance Company announced today that Donna Iverson, owner of C&D Business Services Inc., and Carol Wiesman pleaded guilty to workers’ compensation fraud-related charges.
The 299th District Court in Austin sentenced Iverson and Wiesman to 10 years’ deferred adjudication and ordered them to repay $949,702 to Texas Mutual.
Iverson and Wiesman were involved in a scheme from April 2003 through
March 2006 to conceal business relationships and payroll records from Texas Mutual for C&D Business Services Inc. and C&D Services. Both companies were temporary employment agencies with offices in the Dallas/Fort Worth area.
Because workers’ compensation insurance premium is based in part on payroll, such a scheme results in a business paying less premium than it actually owes.
NFIB, Texas Mutual Partnership Pays Dividends
November 30, 2009 - Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, announced a $335,220 dividend to the National Federation of Independent Business (NFIB) purchasing group for manufacturers today.
The group has earned more than $878,000 in workers’ compensation dividends since 2007.
Group dividends are based largely on the NFIB manufacturing group’s favorable loss ratio. By committing to workplace safety and helping injured workers return to productive employment, the group improves its chances of qualifying for future dividends.*
Get more information about dividends at www.texasmutual.com/news/dividendhistory.shtm.
NFIB manufacturing members are also eligible to participate in Texas Mutual’s individual policyholder dividend program. The company has distributed more than $670 million in individual dividends since 1999:
- Texas law allows employers in similar industries to buy their workers’ comp insurance as a group.
- NFIB manufacturing is open to qualifying light-manufacturing businesses.
- Group members get a discount on their workers’ comp premium and an industry-specific safety plan.
- Any licensed Texas agent can submit clients for consideration in the group.
*Past dividends are not a guarantee of future dividends. The Texas Department of Insurance must approve all dividends.
Texas Mutual Pays $760K Dividend to Green Industry Group
November 19, 2009 - Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, announced a $760,070 dividend to the Texas Green Industry (TGI) purchasing group today. TGI has earned $2,643,037 in workers’ compensation dividends since 2005.
Group dividends are based largely on TGI’s favorable loss ratio. By committing to workplace safety and helping injured workers return to productive employment, the group improves its chances of qualifying for future dividends.*
Get more information about dividends at www.texasmutual.com/news/dividendhistory.shtm.
TGI members are also eligible to participate in Texas Mutual’s individual policyholder dividend program. The company has distributed more than $670 million in individual dividends since 1999:
- Texas law allows employers in similar industries to buy their workers’ comp insurance as a group.
- TGI is open to qualifying wholesale and retail nurseries, landscape contractors, growers, irrigation contractors and other green industry businesses.
- TGI members get a discount on their workers’ comp premium and an industry-specific safety plan.
- Any licensed Texas agent can submit clients for consideration in the group.
*Past dividends are not a guarantee of future dividends. The Texas Department of Insurance must approve all dividends.
TRA Earns $2.9M Texas Mutual Dividend
November 12, 2009 - Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, announced a $2,944,577 dividend to the Texas Restaurant Association (TRA) purchasing group today. TRA has earned $13,815,630 in workers’ compensation dividends since 1999.
“The Texas Restaurant Association is proud of our partnership with Texas Mutual Insurance Company, which enables us to offer our members access to workers’ compensation insurance that meets their needs,” said Richie Jackson, TRA chief executive officer. “Our members’ commitment to workplace safety results in the positive history of dividend earnings this program has experienced over the past decade.”
Group dividends are based largely on TRA’s favorable loss ratio. By committing to workplace safety and helping injured workers return to productive employment, the group improves its chances of qualifying for future dividends.*
TRA members are also eligible to participate in Texas Mutual’s individual policyholder dividend program. The company has distributed more than
$670 million in individual dividends since 1999:
- Texas law allows employers in similar industries to buy their workers’ comp insurance as a group.
- TRA group members get a discount on their workers’ comp premium and an industry-specific safety plan.
- Any licensed Texas agent can submit clients for consideration in the group.
*Past dividends are not a guarantee of future dividends. The Texas Department of Insurance must approve all dividends.
New Policyholders Earn Share of $75M Texas Mutual Dividend Payout
November 11, 2009 - Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, has begun distributing approximately
$1 million in dividends among nearly 2,600 first-year policyholders across the state.
“We have a permanent, vested interest in helping Texas businesses thrive,” said Bob Barnes, chairman of Texas Mutual’s board of directors. “We have pumped more than $670 million into our state’s economy through our individual policyholder dividend plans since 1999. Our policyholders have used those funds to expand their businesses, create jobs, pay skilled employees and improve their safety programs.”
Dividends are based largely on each policyholder’s loss ratio. Policyholders who focus on preventing workplace accidents and helping injured workers get well and back on the job improve their chances of earning a dividend.
The first-year policyholder dividends represent the final component of Texas Mutual’s $75 million 2009 dividend distribution. Approximately 38,000 business owners across the state, representing 79 percent of the company’s policyholders, earned a dividend.
Texas Mutual notes that past dividends are not a guarantee of future dividends, and the Texas Department of Insurance must approve all dividends.
Texas Mutual Hires Dileo to Oversee Claim Operations
October 28, 2009 - Texas Mutual Insurance Company has hired Mike Dileo as senior vice president claims.
Dileo has 15 years’ experience managing claim, underwriting, loss prevention and premium audit operations. He comes to Texas Mutual from the Louisiana Workers’ Compensation Corporation (LWCC), where he most recently served as vice president of agency relations and underwriting operations. LWCC is Texas Mutual’s single-line, state-chartered counterpart in Louisiana.
Dileo holds a bachelor of arts from Louisiana State University, as well as the Certified Property and Casualty Underwriter designation.
Texas Mutual Award Winners Reap Benefits of Workplace Safety
October 27, 2009 - Texas Mutual Insurance Company is recognizing 164 Texas-based employers for their workplace safety efforts. The award is based largely on each policyholder’s safety record, as well as the types of hazards their employees face.
Two award winners volunteered to share their workplace safety tips.
Pioneer Contract Services Inc., Houston’s largest commercial moving and storage company, is a two-time Texas Mutual safety award winner. The company’s all-inclusive approach to safety has helped lower its workers’ compensation premium by 34 percent.
“Some companies run their safety program from the top down,” said Jerry Beatty, who heads up safety and human resources at Pioneer. “We involve our employees at every stage. They help us develop, implement and enforce safety procedures. When you give your people ownership over the safety program, they are more committed to it.”
Safety-conscious employers like Pioneer can reduce their workers’ compensation claim costs by 20 percent to 40 percent, according to the Occupational Safety and Health Administration. For every dollar they invest in safety, they could get a $4 to $6 return.
Texas Mutual policyholders also increase their chances of qualifying for a dividend by committing to workplace safety. The company has paid more than $738 million in dividends during the past 11 years.
SPS Employer Risk Management, a staff leasing company in El Paso, earned its first Texas Mutual dividend this year. About 80 percent of the people SPS does business with speak Spanish, so the company’s safety program has to cross language barriers.
“Fear is probably the biggest barrier,” said Manny Soto, director of risk management at SPS. “Employees who don’t speak English may be afraid to speak up. We stress to management that Spanish speakers need to trust they won’t be reprimanded for reporting safety hazards or admitting they don’t understand safety instructions.”
Besides earning a safety award from Texas Mutual, SPS was the first staff leasing company accepted as a Voluntary Protection Program Star Site by the Occupational Safety and Health Administration. For more information, visit www.osha.gov/dcsp/vpp/index.html.
Texas Medical Group Earns $655K Texas Mutual Dividend
October 22, 2009 - Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, announced a $655,576 dividend to the
Texas Medical Group (TMG) today. TMG has earned $938,168 in workers’ compensation dividends during the past two years.
Group dividends are based largely on TMG’s favorable loss ratio. By committing to workplace safety and helping injured workers return to productive employment, the group improves its chances of qualifying for future dividends.*
Get more information about dividends at www.texasmutual.com/news/dividendhistory.shtm.
TMG members are also eligible to participate in Texas Mutual’s individual policyholder dividend program. The company has distributed more than
$670 million in individual dividends since 1999:
- Texas law allows employers in similar industries to buy their workers’ comp insurance as a group.
- TMG is open to qualifying health service providers, including physicians’ offices, home health care, nursing homes, outpatient care centers, medical and diagnostic labs, diagnostic imaging, assisted living, pharmacists, drug and alcohol clinics, and medical supply companies.
- TMG members get a discount on their workers’ comp premium and an industry-specific safety plan.
- Any licensed Texas agent can submit clients for consideration in the group.
*Past dividends are not a guarantee of future dividends. The Texas Department of Insurance must approve all dividends.
Hospital Group Earns Texas Mutual Dividend
October 9, 2009 - Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, announced a $144,347 dividend to the
Hospitals of Texas (HOTComp) purchasing group today. HOTComp has earned nearly $250,000 in dividends during the past two years.
Group dividends are based largely on HOTComp’s favorable loss ratio. By committing to workplace safety and helping injured workers return to productive employment, HOTComp improves its chances of qualifying for future dividends.*
Get more information about dividends at www.texasmutual.com/news/dividendhistory.shtm.
HOTComp members are also eligible to participate in Texas Mutual’s individual policyholder dividend program. The company has distributed more than
$670 million in individual dividends since 1999:
- Texas law allows employers in similar industries to buy their workers’ comp insurance as a group.
- HOTComp members get a discount on their workers’ comp premium and an industry-specific safety plan.
- Any licensed Texas agent can submit clients for consideration.
*Past dividends are not a guarantee of future dividends. The Texas Department of Insurance must approve all dividends.
Auto Dealers Get $801K Boost From Texas Mutual
October 8, 2009 - Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, announced an $801,625 dividend to the Lone Star Auto Dealers (LSA) purchasing group today. LSA has earned nearly $4 million in dividends since 2002.
“It’s no secret that the auto industry has seen difficult conditions the past couple of years,” said Brad Wicker, LSA group administrator. “Still, Texas is nationally ranked for automotive employment and establishments, as well as its vehicle retail market. Dividends help our members continue to thrive.”
The dividend is based largely on LSA’s favorable loss ratio. By committing to workplace safety and helping injured workers return to productive employment, the group improves its chances of qualifying for future dividends.*
Get more information about dividends at www.texasmutual.com/news/dividendhistory.shtm.
LSA members are also eligible to participate in Texas Mutual’s individual policyholder dividend program. The company has distributed more than $670 million in individual dividends since 1999:
- Texas law allows employers in similar industries to buy their workers’ comp insurance as a group.
- LSA is open to qualifying franchised auto, truck, RV, boat and motorcycle dealerships.
- Group members get a discount on their workers’ comp premium and an industry-specific safety plan.
- Any licensed Texas agent can submit clients for consideration.
*Past dividends are not a guarantee of future dividends. The Texas Department of Insurance must approve all dividends.