The Montana State Fund, the state’s largest workers’ compensation insurance company, announced a $ 20 million dividend this week to be paid by the end of May.
Montana State Fund President and CEO Lawrence Hubbard has details of Helena.
“We are pleased that our board of directors, at their March meeting, reduced the average workers’ compensation rates for customers of the Montana state funds by 10%,” said Hubbard. âThis is certainly on the heels of year-over-year rate cuts since 2007. In addition, the board of directors declared an additional dividend of $ 20 million to clients who have demonstrated sound practices. in terms of occupational safety. “
Hubbard said the Montana State Fund is working with employers to increase workplace safety, in addition to investing wisely, and that the effort has paid off for their clients.
“We have tried to provide resources and support to employers and employees to learn more about safety at work, to develop a true culture of safety at work, recognizing that people are our most valuable asset”, did he declare. âI think the results are literally starting to pay dividends and have been steadily since 2009, although I think the amounts have increased in large part due to the assets invested and the economic return on investments that we have all benefited from, which you have a 401k or if you are, a crown fund like ours.
Hubbard looked at the history of the Montana State Fund when the news was not so good.
âMany years ago the locals knew the Montana State Fund was not a success,â he said. âWe were struggling to get out of a terrible financial mess and the whole workers’ compensation system was really broken. It took several years to rebuild. But I think right now our Montana policyholders and the Montanans can generally be proud of what we’ve accomplished.
Hubbard said the success MSF has enjoyed since then was a team effort.
âIt takes everyone,â he said. âIt takes lawmakers to support the work we do. It takes employers and workers and of course medical providers to help people stay at work if they get injured and certainly get them back to work as soon as possible after an injury.
Hubbard said the $ 20 million dividend follows a similar but separate $ 20 million dividend that was paid last fall.
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