SAIF, Oregon’s not-for-profit workers’ compensation insurance company, recently announced that policyholders in Douglas County will be receiving more than $4.4 million. Statewide, Oregon employers will receive $160 million from SAIF, the company announced, and the amount does not include state agencies or public universities.
Checks will be mailed this month, according to a press release.
SAIF announced two dividends for more than 48,500 employers: a $120 million primary dividend to be paid to SAIF’s policyholders, and a $40 million safety performance dividend to be paid based on each policyholder’s safety results.
This is the tenth year in a row SAIF has paid out dividends, and the 22nd dividend in the past 30 years.
“As a not-for-profit with a public mission to make workers’ comp available and affordable, paying dividends is an important part of the value we offer Oregon employers,” said Kerry Barnett, president and CEO of SAIF, in a prepared statement. “SAIF is the only insurance carrier in Oregon that regularly returns dividends to policyholders at this level.”
The safety performance dividend rewards policyholders for their claims experience for policies whose annual term ended in 2018, based on a scale ranging from zero to 10.6% of their standard premium.
“Our vision is to make Oregon the safest and healthiest place to work,” said Barnett. “We appreciate our policyholders’ efforts to ensure their workers go home safely at the end of each day.”
About 48,500 policyholders are eligible for SAIF’s primary dividend. Of those, about 93.9% are also eligible to receive all or a portion of the additional safety performance dividend.
“In addition to dividends, we are proud to offer our customers some of the lowest rates, best-in-class service, and the largest network of workplace safety professionals of any insurance carrier in Oregon,” said Barnett. “Our goal is to deliver workers’ comp that really works.”
For more information, visit the about SAIF page on saif.com.