Austin, TX (CompNewsNetwork) - 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.*
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.
About Texas Mutual Insurance Company
Austin-based Texas Mutual Insurance Company is the state's leading provider of workers' compensation insurance, with about 25 percent of the market. Since 1991, the company has provided a stable, competitively priced source of workers' comp insurance for Texas employers.