Hotchkiss Insurance Programs has announced a $91,810 dividend to the Texas Home Builders Safety Group (THB) bringing total dividends paid to the group to $509,321.
The group's volume and loss ratio were factors in determining its dividend, the Company reported.
The THB Safety Group, formed in Sept. 2005 exclusively for home builders in Texas, provides qualifying members with a competitive option for workers' compensation coverage. HIP said the announcement marks the fifth dividend paid to the group's policyholders by Texas Mutual Insurance Company, the program underwriter.
The Texas Department of Insurance (TDI) allows employers in similar industries to lower their workers' comp premiums by purchasing their coverage as a group. The THB Safety Group is a TDI- approved purchasing group that is open to most residential general contractors, which includes home builders, engineers, architects and interior carpentry firms. The Texas Home Builders Safety Group is endorsed by the Texas Association of Builders.
HIP is an independent insurance agency offering a broad range of insurance products and services including commercial and personal insurance, life and health insurance, and workers' compensation.
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