• Menu
  • Skip to main content
  • Skip to secondary navigation
  • Skip to primary sidebar
  • Skip to footer

Before Header

  • Search
  • About
  • Contact
  • Privacy
 
CHOOSE BROADSPIRE

Amaxx Workers Comp Blog

Reduce Workers Compensation Costs By 20-50%

Header Right

  • Home
    • Training Center
  • Get Started
    • Newcomers Class for WC Professionals
    • Subscribe to Free Newsletter
    • Free Training Center Account
    • Return to Work Resources
    • WC Claims Mgmt. Resources
    • Insurance Advisor Resources
  • Membership
    • Insider (free account)
    • WC Mastery
    • Teams & Managers Mastery
    • Training Partners
  • Products
    • On-Demand Courses
    • Specialty Courses
    • Certifications & Mastery Courses
    • Ultimate Guidebooks
  • Blog
    • Video Blogs
    • COVID-19 / Coronavirus Pandemic
  • Login

Mobile Menu

Choose Broadspire

CHOOSE BROADSPIREBroadspire Delivers Meaningful Results to Our Clients and Their Claimants
  • Home
    • Training Center
  • Get Started
    • Newcomers Class for WC Professionals
    • Subscribe to Free Newsletter
    • Free Training Center Account
    • Return to Work Resources
    • WC Claims Mgmt. Resources
    • Insurance Advisor Resources
  • Membership
    • Insider (free account)
    • WC Mastery
    • Teams & Managers Mastery
    • Training Partners
  • Products
    • On-Demand Courses
    • Specialty Courses
    • Certifications & Mastery Courses
    • Ultimate Guidebooks
  • Blog
    • Video Blogs
    • COVID-19 / Coronavirus Pandemic
  • Login
  • Search
  • About
  • Contact
  • Privacy
You are here: Home / Workers Comp News / Policyholders Rewarded for Work Comp Cost Containment with 150 Million in Dividends

Policyholders Rewarded for Work Comp Cost Containment with 150 Million in Dividends

August 14, 2012 By //  by Michael B. Stack Leave a Comment

Texas Mutual Insurance Company announced that it has begun distributing $150 million in workers compensation dividends among approximately 40,000 qualifying policyholders.

“As a mutual insurance company, our responsibility is to our policyholders,” said Bob Barnes, chairman of Texas Mutual’s board of directors. “They own the company, and this money belongs to them. We are proud to share Texas Mutual’s success with those who have contributed to that success.”

When publicly traded corporations pay dividends, every stockholder gets a dividend based on the shares they own at that time. When Texas Mutual pays dividends, it rewards specific policyholders who focus on controlling workplace accidents and helping injured workers return to the job.

This marks the 14th consecutive year Texas Mutual has paid dividends to qualifying policyholder owners. By the end of 2012, the company will have paid $1.2 billion in dividends. The majority of that total – more than $1 billion – will have been paid since 2005.

Meantime, the company also reported the sentencing of a worker for workers comp fraud.

According to Texas Mutual, a Travis County court recently sentenced Henry Gomez of Lockhart, Texas on workers comp fraud-related charges. Gomez paid $1,155 in restitution to Texas Mutual and was sentenced to seven months’ deferred adjudication.

Gomez reported a job-related injury while working as a truck driver and supervisor for Wims Environmental, Inc. in Garland, Texas. He claimed he was unable to work as a result of the injury, and Texas Mutual began paying income benefits to him.

Meanwhile, Texas Mutual uncovered evidence that Gomez was working as a sales consultant for another employer while receiving income benefits.

Investigators call this type of scam double-dipping because the claimant collects benefits for being too injured to work when he or she is, in fact, gainfully employed. Texas law requires claimants to contact their workers comp carrier when they return to work. Left unchecked, double-dipping and other workers comp fraud can lead to higher premiums for all Texas employers.

 

Author Michael B. Stack, CPA, Director of Operations, Amaxx Risk Solutions, Inc. is an expert in employer communication systems and part of the Amaxx team helping companies reduce their workers compensation costs by 20% to 50%. He is a writer, speaker, and website publisher.  www.reduceyourworkerscomp.com.  Contact:  mstack@reduceyourworkerscomp.com.

 

WORKERS COMP MANAGEMENT MANUAL:  www.WCManual.com

 

Do not use this information without independent verification. All state laws vary. You should consult with your insurance broker or agent about workers comp issues.

 

©2012 Amaxx Risk Solutions, Inc. All rights reserved under International Copyright Law. If you would like permission to reprint this material, contact us at: Info@ReduceYourWorkersComp.com.

Filed Under: Workers Comp News Tagged With: Incentives for Workers Comp Cost Containment, Texas, Texas Mutual, Workers Comp Cost Containment, Workers Compensation Cost Containment

Related Articles

Paradigm Appoints Don Munkwitz as Senior Vice President of Strategy and Execution for Catastrophic Care Management

Paradigm Appoints Don Munkwitz as Senior Vice President of Strategy and Execution for Catastrophic Care Management

For Social Insurance Programs, Let Minnesota’s Workers’ Comp Program Be Your Guide

For Social Insurance Programs, Let Minnesota’s Workers’ Comp Program Be Your Guide

Radius Bank Partners with Professional Administrator Ametros to Offer Checking and Savings Accounts

Radius Bank Partners with Professional Administrator Ametros to Offer Checking and Savings Accounts

RIMS 2019 – Workers’ Comp Related Sessions That Stand Out

RIMS 2019 – Workers’ Comp Related Sessions That Stand Out

Living Values, Drug Trend Simulcast, MSA Metrics, and More Top WC News Tidbits

Living Values, Drug Trend Simulcast, MSA Metrics, and More Top WC News Tidbits

​WCRI’s Annual Workers’ Comp Conference Features Latest Research and Efforts to Address Opioid Epidemic

​WCRI’s Annual Workers’ Comp Conference Features Latest Research and Efforts to Address Opioid Epidemic

Medcor Launches New Telemedicine Service for Workers’ Comp Nationwide 24/7

Medcor Launches New Telemedicine Service for Workers’ Comp Nationwide 24/7

After Traumatic Injury, Workers’ Comp Can Thrive and Other Top News Tidbits

After Traumatic Injury, Workers’ Comp Can Thrive and Other Top News Tidbits

Medcor Announces the Acquisition of TalisPoint

Medcor Announces the Acquisition of TalisPoint

The Intersection of Medicine and Disability: A Doctor’s View & Other Top WC Tidbits

The Intersection of Medicine and Disability: A Doctor’s View & Other Top WC Tidbits

Artemis Emslie Joins Ametros’ Board of Directors And Other Top News Tidbits

Artemis Emslie Joins Ametros’ Board of Directors And Other Top News Tidbits

Mentoring Millennials Is Key, RIMS 2018, and Other Top News Tidbits

Mentoring Millennials Is Key, RIMS 2018, and Other Top News Tidbits

Free Download

The 5 Cs For Taking A Bulletproof Injured Worker Recorded Statement - FREE Download Click Here Now!

Train to Succeed

BECOME CERTIFIED IN WORKERS’ COMPENSATION

Proven Course Catalog & WC Toolbox Give You The Power To Achieve Lower Costs and Better Injured Worker Outcomes

VISIT WORKERS' COMP TRAINING CENTER

Previous Post: « British Union Reacts to Call to Charge Workers for Employment Tribunal Claims
Next Post: The Great Debate, Does Employer or Employee Benefit More From Worker Comp »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

FREE DOWNLOAD

The 5 Cs For Taking A Bulletproof Injured Worker Recorded Statement - FREE Download Click Here Now!

Our Sponsors

Broadspire

Workers’ Comp 3rd-Party Administrator
 

Catastrophic Care Management, Complex Care, and Specialty Networks
 

Ametros

Post-Settlement Administration
 

Medcor

Injury Triage, Onsite Clinics

Read Our Award-Winning Blog

Blog Categories

Search Our Archive

Subscribe to Our FREE Newsletter

Footer

Search Our Archive

Search our continually growing archive of over 2500 articles about Workers' Comp issues.

Quiclinks

  • Calculators
  • Terms & Abbreviations
  • Glossary of WC Premium Terms
  • WC Resources
  • Best Practices
  • Industries

RSS Recent Blog Posts

  • Reduce Workers’ Comp Costs in a Union Environment
  • Selecting the Right Service Providers to Reduce Workers’ Comp Costs
  • 3 Techniques To Gain Workers’ Comp Management Commitment
SUBSCRIBE TO OUR FEE NEWSLETTER
Let Us Help You Stomp Down the High Cost of Workers' Comp!
Top of Page ↑
  • Home
  • Training Center
  • Get Started
  • Membership
  • Products
  • Blog
  • About
  • Contact
  • Subscribe
  • Login
Copyright © 2021 Amaxx, LLC. All Rights Reserved. · Privacy Policy / Legal Notice