SCF Arizona Board Approves $10 Million Dividend
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Phoenix, AZ (CompNewsNetwork) - SCF Arizona's Board of Directors unanimously approved a $10 million dividend for 2008 to qualified policyholders.
"We are pleased to be able to return $10 million to Arizona's economy, particularly in times like these," said SCF Board Chair Judith Patrick. "We believe returning $10 million to our policyholders who qualify by keeping their workplaces safe will provide a boost to them and to the Arizona economy."
SCF Arizona President & CEO Don Smith noted the dividend payout marks 38 straight years the state's largest workers' compensation provider has been able to return money to policyholders. Dividend amounts paid to qualified policyholders are based on annual premium and incurred losses (claims).
Smith said that Arizona continues to be a safer place for workers, and workplace injury claims have been cut in half during the past decade, but the cost of treating those injuries continues to increase.
"It's a credit to our entire organization and our Board that through our attention to quality claims management and our efforts to keep premiums among the lowest in the nation, that we are able to provide this stimulus to many of our deserving policyholders," Smith said.
"Dividends are never guaranteed," Smith added. "The Board bases its decision on SCF's financial performance for the year and conditions in the marketplace.
"We congratulate all of our policyholders that will qualify for a dividend," Smith said. "They have done so by keeping their workplaces safe and through good management practices."
About SCF AZ:
SCF Arizona is the state's largest workers' compensation insurer, serving more than 42,000 businesses and more than 700,000 employees statewide. SCF has operated in Arizona for more than 80 years, holds $3.4 billion in assets and employs more than 500 people. SCF is headquartered in Phoenix and has offices in Flagstaff, Lake Havasu City, Prescott, Show Low, Tucson and Yuma.
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