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Dividends
April 11, 2019
WCF Mutual Insurance Company declared a $16 million dividend that will be distributed to policyholders the fourth week of May. Utah policyholders can expect to receive 8% of their 2018 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 $452 million in dividends to its Utah policyholders since 1992—9% of net earned premium. Nearly 20,000 businesses in Utah will receive a portion of the $16 million policyholder dividend.
DIVIDEND Q&A
Why does WCF Mutual Insurance Company distribute dividends?
WCF Mutual Insurance Company's Utah policyholders are some of the owners of the company and share in its financial success.
How was my dividend calculated?
The dividend check is 8% of your company's earned premium attributable to 2018.
The dividend check is 8% of your company's earned premium attributable to 2018.
Why not apply the dividend to further lowering premiums for policyholders?
WCF Mutual Insurance Company 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 Mutual Insurance Company 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 Mutual Insurance Company 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 Mutual Insurance Company 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.
