AZ SCF Approves $7.5 Million Dividend

Phoenix, AZ - Arizona-based workers' compensation insurance provider SCF Arizona announced its Board of Directors approved a $7.5 million dividend payout for 2009 to qualified policyholders.

“In this tough economy, we are pleased to be able to infuse $7.5 million back into our local communities in the way of dividends to our customers who have earned it by keeping their workplaces safe,” said SCF Board Chair Judith Patrick.

SCF Arizona President & CEO Don Smith noted the Board's action marks 39 straight years the state's largest workers' compensation provider has been able to reward safe customers with dividends. The amount paid to qualified policyholders will depend on their annual premium and record of workplace injury claims.

“Dividends are never guaranteed,” Smith said. “The Board bases its decision on SCF's financial performance for the year and the conditions in the marketplace.”

SCF has been serving Arizona since 1925, and is the state's largest workers' compensation insurer providing coverage to more than 35,000 active policyholders – most of them small businesses – and their nearly half–million employees.

As the dominant carrier in the market, SCF partners with more than 70 trade and business associations to provide workplace safety education. SCF's commitment to creating a culture of safety throughout Arizona to keep workers safe has helped the state earn a national reputation as a workplace safety leader. And members of SCF's Association Safety Program also may be eligible for a bonus safety dividend.

“We always say that safe companies save money, and returning dividends to the companies that have earned it through their safety records is just one way they can recognize these savings,” Smith said. “It's a credit to our organization and our Board that through an emphasis on workplace safety, quality claims management and our efforts to keep premiums among the lowest in the nation, that even in this slow economy we are able to provide a dividend to many of our deserving policyholders, and we congratulate those who have earned it,” Smith said.

Source: SCF Arizona   

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