Texas Mutual Pays $1.7M Dividend to TxOGA Group

Texas Mutual Insurance Company reported a $1,789,062 dividend to the Texas Oil and Gas Association (TxOGA) workers’ compensation purchasing group. TxOGA has received over $3.5 million in Texas Mutual group dividends since 2001.

Purchasing group dividends are separate from the approximately $100 million of individual dividends Texas Mutual Insurance Company will distribute among about 34,000 qualifying policyholders this summer. Some TxOGA group members may earn both types of dividends.

“The potential for dividends is one of the attractive things about this program, but it’s certainly not the only one,” said Jim Sierra, master agent for the group. “This group is a great opportunity for TxOGA members to save money on their premiums and improve safety in their workplaces.”

TxOGA group members get a premium discount based on the premium volume of the entire group, regardless of their individual premium size. Texas Mutual also provides a dedicated loss prevention consultant and a safety plan developed specifically for the oil and gas industry.

Any agent can place a qualifying client in the group, with the underwriter’s approval. For more information about TxOGA and other Texas Mutual purchasing groups, visit the Agents section at www.texasmutual.com.

Source: Texas Mutual