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.
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: