via Texas Mutual
Texas Mutual’s board of directors voted unanimously to approve a company-record $240 million dividend distribution in 2016. Qualifying policyholder owners across Texas will share the dividend, which will be distributed beginning in July.
This is the 18th consecutive year the board has voted to distribute policyholder dividends, bringing the total to over $2 billion. Over $1 billion of that has been paid since 2012.
Texas Mutual is owned by its policyholders, not stockholders, which means the company shares its success by distributing dividends to policyholder owners who have made a commitment to preventing workplace accidents and helping injured workers get back on the job.
“Texas Mutual has a long history of rewarding our policyholder owners for their contributions to our success,” said Bob Barnes, chairman of Texas Mutual’s board. “These dividends reward safe business practices and also help our policyholders’ bottom lines. Our policyholder owners play an important role in Texas’ economy, and we know the difference these dividends can make for them.”
Texas Mutual President and CEO Rich Gergasko said the dividend distribution is about more than just financial success and that it also signifies the commitment the company and its policyholders make to keeping workplaces safe.
“Texas Mutual measures success not just in terms of dollars and cents but also in the number of lives saved and accidents prevented when employers place an emphasis on workplace safety,” Gergasko said. “We’re proud to share our success and reward the safety efforts Texas employers make with this year’s dividend distribution.”
Gergasko noted that while Texas Mutual has awarded dividends each year since 1999, they are based on performance and therefore are not guaranteed. Additionally, dividends must comply with Texas Department of Insurance regulations.
The below article was written by Gloria Gonzales for BusinessInsurance.com. We are reblogging it on our website as it pertains relevant information to our clients.
The U.S. Occupational Safety and Health Administration is facing significant backlash about costs, uneven applicability and whether it has the authority to develop a new emergency responder standard beyond the federal level in the wake of the deadly and destructive West, Texas, fertilizer plant explosion.
The April 2013 blast at West Fertilizer Co. killed 15 people, including 12 emergency responders, injured dozens and leveled large portions of the town, resulting in losses of $230 million.
Ironically, OSHA's safety proposal would not apply to the town and situation that sparked the proposal.
At OSHA's request, a subcommittee of the National Advisory Committee for Occupational Safety and Health drafted the proposed standard. It would require emergency service organizations to write and implement a comprehensive risk management plan covering risks associated with administration, facilities, training, vehicle operations, protective clothing and equipment, emergency and nonemergency incidents and related activities.
It also would include hazard identification and risk evaluation, control techniques and monitoring, among other actions.
The draft is directly aimed at addressing a key vulnerability for emergency services organizations, particularly in responding to incidents at facilities housing hazardous materials.
A January report by the U.S. Chemical Safety and Hazard Investigation Board about the 2013 Texas blast concluded that the local volunteer fire department likely was unaware of and unprepared for the detonation of ammonium nitrate materials at the facility.
“The reason we're here now is because of the incident in the city of West, Texas,” Rick Ingram, health and safety adviser at BP P.L.C. in Goliad, Texas, and co-chair of the subcommittee, said during a subcommittee meeting in Washington last month. “What was missing there was the risk management plan.”
But some provisions of the OSHA plan have sparked controversy, including a ban on iconic fire station poles in new construction, effective two years after a final rule is published, to address serious injuries and even fatalities.
“The poles are a traditional thing,” but they are fraught with injuries, said Patrick Morrison, assistant to the general president for occupational health, safety and medicine at the International Association of Fire Fighters in Washington and a member of the subcommittee. “They're dangerous.”
In addition, the draft proposal would require emergency responders to undergo thorough medical evaluations each year, but experts say that would significantly strain the resources of state and local emergency services organizations.
“I'm just concerned that this is so specific that this would force a lot of my rural fire departments out of business,” said Bill Warren, director of the Arizona Division of Occupational Safety and Health in Phoenix and a subcommittee member.
The proposals would have limited impact because many emergency responders — primarily state, county and municipal employers — do not fall under OSHA's jurisdiction. The Occupational Safety and Health Act covers most private employees, but not state and local governmental workers unless they are in a state that has an OSHA-approved state plan. This means that the proposed rule would apply in the 26 states such as Oregon and Washington that have OSHA-approved state plans, but not in the 24 states including Texas and Pennsylvania that do not have OSHA-approved state plans.
“No matter how good the rule is that eventually might get adopted, more than half of the country won't have to comply,” said Anne Soiza, assistant director of the Washington Division of Occupational Safety and Health in Olympia and chair of the OSHA advisory committee.
Given the limitations on OSHA's authority, the proposal would apply only to an estimated 10% to 25% of employers and employees at emergency services organizations in the 24 states without an OSHA-approved state plan, said Michael Wood, administrator of the Oregon Occupational Safety and Health Division of the Department of Consumer and Business Services in Salem and a past chair of the Occupational Safety and Health Plan Association.
The association objected to OSHA's intent to develop the standard, in part because it is “particularly inappropriate” for OSHA to attempt to regulate state and local government emergency response — an area where it has no jurisdiction, experience or expertise, according to a letter the association sent last month to Assistant Secretary for Occupational Safety and Health David Michaels. Although the association supports OSHA's information-gathering activities in the wake of the West Fertilizer disaster, “this rule would have no regulatory impact on the fire department in West, Texas,” Mr. Wood said.
“That concern isn't because we disagree that there is a significant safety and health issue or that we don't share a deep awareness of the particular risks faced by firefighters and by folks more broadly involved in emergency response,” he said. “Our concern really has to do with the notion that federal OSHA is in this rulemaking crafting a rule that it will, in a broad sense, not need to live with because across-the-board federal OSHA does not have authority over state and local government.”
VFIS of Texas and Texas Mutual Insurance Company Award $150k in Grants to Texas Emergency Responders
VFIS of Texas and Texas Mutual Insurance Company recently awarded grants of up to $5,000 to 71 emergency responder organizations across Texas. Funds awarded through the 2016 Emergency Responder Safety, Training & Wellness Grant Program totaled more than $150,000 and will enable these organizations to participate in a certification program, attend critical workplace safety training, and implement training/wellness programs to prevent on-duty deaths and injuries.
Over $600,000 in grant requests were received. VFIS of Texas and Texas Mutual Insurance Company partnered with the State Firefighters' & Fire Marshals’ Association of Texas (SFFMA) to manage the application process and select the grant recipients.
“Cardiac events are the leading cause of death among firefighters,” said Martin Ritchey, President of Mid-County Volunteer Fire Department. “Our department wants to be an example for our region in stressing the importance of fitness. We presently lack funds to provide the necessary equipment to achieve our fitness goals. Your grant dollars will be used along with our funds and “sweat equity” to build out a training space at our station #2. Without your funding we could not afford to acquire the equipment necessary for this important task."
Each recipient submitted an application outlining a specific need or project the grant would fund. This is the third consecutive year Texas Mutual and VFIS of Texas have awarded these grants to emergency responders across the state.
“These grants directly impact our emergency responders by improving their safety and wellness, better preparing them to serve our communities,” Barbara Marzean, President of VFIS of Texas, said. “The more we can do to support safety, training and wellness for these emergency service organizations, the more we can reduce and prevent emergency responder injuries and deaths.”
Grantees will be recognized at the SFFMA Annual Conference June 25-29, 2016 in McAllen, Texas.
See a full list of 2016 Emergency Responder Safety, Training & Wellness grant recipients below:
VFIS of Texas NEWS
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