BATON ROUGE, La., April 24, 2018 /PRNewswire/ -- The Retailers Casualty Insurance Company board of directors has declared a $1 million dividend for the 2016 policy year, and dividends to qualifying policyholders have been distributed this week.
Each dividend is in proportion to qualifying policyholder premium and loss ratio—the better their record, the higher the return. The amount of dividend paid to qualifying policyholders with zero losses will be 7.4 percent of their normal premium. To receive dividends, policyholders must meet minimum requirements, and dividends are not guaranteed.
"Retailers Casualty Insurance Company continues to provide stable workers' comp coverage for our policyholders and rewards those who keep their losses low," states Carl Carstens, chairman of the Retailers Casualty board of directors.
Retailers Casualty is managed by Summit Consulting, LLC ("Summit"), the people who know workers' comp. According to Hank Chiles, senior vice president responsible for Summit's Southwest Region, "Qualifying policyholders will receive either a mailed check or a credit to their account. Summit will continue to offer the kind of support that makes these dividends possible. The clear potential for dividends—combined with Summit's services—make Retailers Casualty Insurance Company one of the best workers' compensation programs in the market."
Summit has 40 years of experience in workers' compensation and provides underwriting, policy administration, claims management and loss prevention services to Retailers Casualty Insurance Company policyholders.