CopperPoint Mutual Insurance Company announced it will pay out safety dividends totaling $2.8 million for 2015 to qualified policyholders. It is the 46th consecutive year the company’s Board of Directors approved a dividend payment.
CopperPoint began paying safety dividends in 1969, and since has returned more than $1.5 billion to qualified policyholders who maintain safe workplaces.
“CopperPoint is pleased we can once again pay a dividend to qualified policyholders, who are our partners in keeping workers safe statewide,” said CopperPoint Board Chair Ken Kirk.
The amount paid to each qualified policyholder depends on its annual premium and record of workplace injury claims.
CopperPoint Executive Vice President, COO & President of Subsidiaries Rick Jones noted that policyholders in three of CopperPoint subsidiaries – CopperPoint Premier Insurance Co., CopperPoint American Insurance Co., and CopperPoint Western Insurance Co. – receive upfront savings on premiums rather than a dividend payment at the back end.
“Dividends are never guaranteed,” Jones said. “The Board based its decision on CopperPoint’s financial performance for the past year as well as conditions in the marketplace.”
CopperPoint President & CEO Mark Schmittlein added, “In approving this dividend payout, the Board’s action reflects CopperPoint’s commitment to support local businesses and allows us to reward our safest customers. We could not provide this dividend without the efforts of our employees, our Board and most of all our qualified customers who have earned safety dividends by their efforts to keep their employees safe.”
To read the press release online, click here.