LAKELAND, Fla., Oct. 15, 2013 /PRNewswire/ -- RetailFirst Insurance Company is pleased to announce that it has declared a dividend for policyholders who participated in a group created exclusively for members of the Florida Retail Federation (FRF) and who are committed to workplace safety.
The safety group is comprised of RetailFirst workers' compensation policyholders who are also members of the Florida Retail Federation and have signed a pledge to implement a strong, comprehensive safety program. Policyholders who participate in the safety group have the opportunity to receive a dividend based on the group's loss performance.
William Kundrat, Jr., chairman of the board for RetailFirst, notes, "This is the first time the group has been eligible to receive the safety dividend, which is based on overall safety performance for the 2011 policy year. We are excited to distribute a dividend reward, but more important are the long-term savings and benefits business owners will see from emphasizing workplace safety."
Kundrat adds, "Our long-standing relationship with the Florida Retail Federation centers on our shared passion for Florida's business owners. The FRF offers its members valuable, money-saving benefits that can reduce their day-to-day business expenses, and we work with employers to develop proactive safety programs to help control their comp costs. This unique safety group is just one more way to demonstrate the value of safety to employers."
Additional Individual Dividends
RetailFirst policyholders also have the potential to earn individual dividends based on their safety record and workers' compensation policy type. RetailFirst's competitive dividend programs give policyholders the opportunity to earn back a portion of their workers' compensation premium at the end of the policy year. The lower a business keeps its total claims costs during the policy year, the higher the monetary reward could be. Since its inception as a self-insurers fund, RetailFirst has returned more than $115 million in dividends to its members/policyholders who effectively manage their claims costs.
RetailFirst is a monoline workers' compensation carrier that insures nearly 9,000 businesses throughout Florida and has a policyholder surplus in excess of $125 million. RetailFirst Insurance Company and affiliate BusinessFirst Insurance Company make up
RetailFirst Insurance Group, which is rated B++ (Good) by A.M. Best Company. The day-to-day operations of RetailFirst are managed by Summit Consulting LLC, a workers' compensation managing general agent with more than 35 years of experience.
Workers' compensation business submissions are now being accepted through independent agents in Florida. Information on agency appointments is available by calling Summit's Agency Relations department at 1-800-282-7648. For more information about RetailFirst, visit www.retailfirstinsurance.com.
Note: Dividends are declared at the discretion of the board of directors and are not guaranteed. Policyholders must meet minimum requirements to participate.
SOURCE RetailFirst Insurance Company