Dividends
March 16, 2017
WCF Insurance has declared a $15.8 million dividend that will be distributed to policyholders the fourth week of May. Policyholders can expect to receive 7.5% of their 2016 premium.
“We are pleased to be in a position to share our financial results with our loyal policyholders,” said WCF President and CEO, Ray Pickup. “They are the owners of our company and contributed to the success of the year by keeping workers safe and on the job. We will continue to fulfill our duty to our policyholders by working to reduce accidents, provide competent care for injured workers and facilitate a stable pricing environment.”
With this distribution, WCF will have paid more than $418 million in dividends to its policyholders since 1992—9% of net earned premium. More than 20,000 businesses in Utah will receive a portion of the $15.8 million policyholder dividend.
DIVIDEND Q&A
Why does WCF Insurance distribute dividends?
WCF Insurance Utah policyholders are the owners of the company and share in its financial success.
How was my dividend calculated?
The dividend check is 7.5% of your company's earned premium attributable to 2016.
The dividend check is 7.5% of your company's earned premium attributable to 2016.
Why not apply the dividend to further lowering premiums for policyholders?
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. WCF Insurance management feels that to the extent possible, Utah policyholders that contributed to that experience should benefit from the savings.
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. WCF Insurance management feels that to the extent possible, Utah policyholders that contributed to that experience should benefit from the savings.
