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Texas Mutual Insurance Company, a policyholder-owned company, recently awarded a dividend of $442,574 to the Hospitals of Texas safety group (HOTCOMP). The dividend was earned based on the group members’ dedication to making safety a priority in their hospitals and therefore keeping the group’s loss ratio low.
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Texas Mutual Insurance Company announced today that its board of directors voted unanimously to approve a company-record $225 million dividend distribution in 2015. Qualifying policyholder owners across Texas will share the dividend, distribution began in July.
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Published by: Business Review
Companies that treat employee health and employee safety as separate programs do so at the expense of the bottom line. By integrating the two functions, companies can cut costs and increase profits…
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About Safety Matters:
It is our hope that this publication, in addition to Texas Mutual’s Safety Resource Center, proves a useful tool to promote safety in our members’ hospitals. The newsletter will focus on safety issues that specifically trend to our membership hospitals.
We hope to hear from you on safety issues your hospital is facing and on successful safety procedures you have implemented. It is the safety committee’s goal to create a collaborative exchange of ideas that contributes to making all of our hospitals safer which, in turn, will increase our safety group’s benefits.
Please send your ideas, questions and comments to safety@hotcomp.net.
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WhyYour Safety Matters:
You’re receiving this email as a member of the HOTComp safety group. The group is a joint effort between HealthSure Insurance Services and Texas Mutual Insurance Company. Group members receive exclusive benefits like targeted safety resources, a discount on their workers’ compen
sation insurance and potential dividends based upon the safe performance of the group. HOTComp group participants have shared in over $1 million in group dividends since 2008 in addition to individual dividends from Texas Mutual.
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888.665.1539 | hotcomp.net | safety@hotcomp.net
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Texas Mutual Insurance Company, a policyholder-owned company, recently awarded a dividend of $442,574 to the Hospitals of Texas safety group (HOTCOMP). The dividend was earned based on the group members’ dedication to making safety a priority in their hospitals and therefore keeping the group’s loss ratio low.
“We are happy to reward our policyholder partners who share the same values we do – namely, keeping workers safe and keeping costs low,” said Texas Mutual President and CEO Rich Gergasko. “We are happy to reward our policyholder partners who commit to those values.”
Since 1999, Texas Mutual has distributed more than $125 million in safety group dividends among qualifying safety groups. Many group members also qualify for individual policyholder dividends from Texas Mutual based largely on their companies’ loss ratios.
HOTCOMP has distributed a total of $1,706,946 since the programs inception in 2007. Texas Mutual has distributed $1.6 billion in safety group and individual policyholder dividends since 1999. The majority of that total – $1 billion – has been distributed in the last seven years.
In addition to potential dividends, HOTCOMP safety group members also receive discounts on their workers’ compensation premiums and have access to free workplace safety materials designed for Texas Hospitals.
“Texas Mutual safety services offers valuable information that helps keep hospital employees safe,” said Barry Couch, program manager. “It’s great to know that Texas Mutual is in HotComps corner with safety tips and dividends that help hospitals keep costs low and focus on delivering quality care.”
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.
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