May 23, 2016
WCF Insurance has declared a $21 million dividend that will be distributed to policyholders the fourth week of May. Policyholders can expect to receive 10% of their 2015 premium.
“Policyholders are receiving a dividend because we had an outstanding year in 2015,” said WCF Insurance CEO and President, Ray Pickup. “Claims decreased relative to premium and the amount of payroll insured by WCF Insurance increased because of Utah’s strong economy. The company’s investments also performed well in 2015, which contributed to our financial success.”
With this distribution, WCF Insurance will have paid more than $402 million in dividends to its policyholders since 1992—giving back 36% of operating income (9.3% of net earned premiums) to its policyholders.
“We are pleased to be in a position to share our financial results with our loyal policyholders,” Pickup said. “We are committed to remain financially strong by continually implementing innovative business practices and helping policyholders create a safer workplace.”
The dividend check is 10% of your company's earned premium attributable to 2015.
WCF Insurance has a statutory obligation to help maintain a healthy and stable rate environment in Utah. Insurance is a cyclical industry and rates will vary from year to year. WCF Insurance will endeavor to keep pricing as stable as possible with rates that are based on long-term actuarial claims experience. This year's dividends are attributable to extraordinarily favorable claims experience. WCF Insurance management feels that to the extent possible, Utah policyholders that contributed to that experience should benefit from the savings.