Approximately 23,000 qualifying Montana State Fund (MSF) policyholders will share a $35 million dividend – the equivalent of a 27% retrospective rate reduction. This is the largest dividend ever distributed by MSF.
The board of directors announced the historic dividend at a November board meeting. This is the 17th consecutive year a dividend has been declared.
The dividend returns a portion of premium back to those policyholders who have made a commitment to provide a safe workplace for their employees and in turn lower injury rates.
It is an incentive to focus on safety, according to Laurence Hubbard, president-CEO of Montana State Fund.
“We commend those policyholders and their employees for being a part of the solution and working with us to efficiently manage claims, implement proactive return to work programs and reduce overall workplace accidents. It would be an added benefit if employers use these dividends to recognize their employees’ efforts to work safely,” Hubbard remarked.
Hubbard explained that the historic dividend is due not only to improved workplace safety and return to work programs, but prudent financial decisions of MSF management and strong investment performance.
Since 1999, Montana State Fund has returned $141 million in general dividend payments to deserving policyholders.
Policyholders that meet the criteria for a dividend were to be notified in mid-December and will receive their payments in early January 2016.
Author Kori Shafer-Stack, Editor, Amaxx Risk Solutions, Inc. is an expert in post-injury response procedures and part of the Amaxx team helping companies reduce their workers compensation costs by 20% to 50%. www.reduceyourworkerscomp.com. Contact: kstack@reduceyourworkerscomp.com.
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