Texas Mutual Insurance Company reported that is has awarded the Emergency Service Organization (ESO) workers’ compensation purchasing group with $92,762 of group dividends.
The group dividends are separate from any general Texas Mutual dividend that ESO members may receive.
“We’re very pleased with ESO’s safety efforts,” said Ken Lauber, Texas Mutual vice president of Field Operations. “With continued focus on safe workplaces and accident prevention, as well as managed growth of the group, we’re optimistic that ESO can continue improving its overall loss ratio, increase its premium volume, and possibly earn future Texas Mutual group dividends.”
A group’s volume and loss ratio are key components in determining whether it qualifies for a dividend. The greater the group’s volume and the lower its overall group loss ratio is, the higher its dividend percentage will be.
ESO members are eligible for Texas Mutual group dividends as well as possible general dividends. Although insurance companies cannot guarantee future dividends, Lauber said that Texas Mutual’s philosophy is to reward its top groups when money is available.
ESO works through VFIS of Texas/Regnier & Associates, an insurer of emergency service organizations in the state.
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