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Texas Mutual Equips Group With Dividend

18 Jun, 2008 WorkersCompensation.com

                               

Austin, TX (CompNewsNetwork) - Texas Mutual Insurance Company announced a $45,697 dividend to the Texas Machinery and Equipment Dealers (TM&E) workers' compensation purchasing group today. The group's first dividend was based largely on its first-year premium volume and loss ratio.

Texas Mutual Insurance Company underwrites TM&E, and The Roy Agency administers it. TM&E is open to qualifying machinery and equipment dealers, including farm and industrial machinery, packaging machinery, construction machinery and lift truck drivers. Any licensed Texas agent can submit clients for consideration.

In addition to potential dividends, TM&E members get a premium discount and an industry-specific safety plan.  

Texas Mutual Insurance Company has declared nearly $37 million in dividends to members of its group discount programs since 1999. Group dividends are separate from the $150 million in individual policyholder dividends the company declared this summer.

Texas Mutual Insurance Company notes that past dividends are not a guarantee of future dividends, and the Texas Department of Insurance must approve all dividends. For more information about dividends, visit the News & Publications section at texasmutual.com.

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