24May 2021

Dividend Checks Will Begin Rolling Out in July

EAP Dividend

State Fund’s Board of Directors declared a 2020 Policy Year dividend of 10%.  The payout will be calculated based upon a policyholder’s Estimated Annual Premium (EAP). Eligibility for the 2020 Policy Year dividend requires that the policyholder meet all of the following criteria:

  • Policy took effect 1/1/2020 – 12/31/2020
  • 2020 policy has expired, been final billed, and paid in full
  • Policy was not cancelled for cause

This dividend reflects the continued progress we’ve made to strengthen our financial position and deliver long-term value to you.

Large Account Safety Dividend

We are also beginning to distribute a Large Account Safety Dividend of 5% for qualifying policyholders. These polices must have Standard Premium of $500,000 or greater at date of policy inception. Eligibility requires that the following criteria are met:
Policy took effect 1/1/2020 – 12/31/2020

  • Premiums have been paid on time
  • Policy has expired, been final billed, and paid in full
  • Policyholder cooperated with State Fund’s Loss Prevention team & Claims Liaisons and completed all recommendations
  • Policyholder provided State Fund’s Premium Audit team with all requested records within 30 days of written request and completed their audit on time

The Large Account Safety Dividend recognizes our policyholders added level of commitment to employee safety.

Disclaimer: Under California law it is unlawful for an insurer to promise the future payment of dividends under an unexpired workers’ compensation insurance policy or to misrepresent the conditions for dividend payment. Dividends are payable only pursuant to conditions determined by the Board of Directors or other governing board of the Company following policy expiration. It is a misdemeanor for any insurer or officer or agent thereof, or any insurance broker or solicitor, to promise the payment of future workers’ compensation dividends. Past dividend performance is no guarantee of an insurer’s future dividend performance.

This entry was posted in For Brokers and tagged , . Bookmark the permalink.