Being Rewarded For Safety Is No Accident: Dividend Declared
At Montana State Fund, we know that the surest way to create a stable, affordable workers’ compensation insurance market is to develop a culture of safety across Montana, one where fewer people are injured at work and those who are injured get cared for and back to work sooner. Our dividend program was created to help ensure that vision by reinvesting funds back into Montana companies who put safety first.
Diamond Construction in Helena is an excellent example. Over the past few years, Diamond has seriously invested time, resources, and money into the safety training and education of their employees. They have worked one on one with an MSF safety consultant as well as taking part in MSF’s intensive 12-month Worksafe Champion program. And these efforts have paid off, literally. (Learn more about Diamond’s safety philosophy through this WorkSafe Champion video spotlight).
Recently, Diamond was one of over 23,000 policyholders to share in MSF’s $40 million dividend distribution. While dividends cannot be guaranteed, our Board of Directors was confident that our strong financial position allowed them to return a portion of our safest policyholder’s premium back to them through our dividend program.
Why Have A Dividend, Just Lower Rates? Actually, MSF has held steady or lowered rates since 2007. In that time premium rates have been reduced by 37 percent, while still distributing dividends. MSF works hard to maintain stable rates for Montana employers. If rates can be safely lowered due to fewer workplace accidents or improved return to work, MSF will do so. The general dividend allows MSF to truly reward those customers who have demonstrated a strong focus on safety and have managed their results. Recent history demonstrates the value MSF provides to businesses in Montana by both rate reductions and dividend payments.
How Are Dividends Funded? When Montana State Fund is able to meet its financial commitments and investment income exceeds what is needed to pay for past claims, it is only right that we share a dividend with our fellow Montanans who make it possible through their responsible safety actions.