Utah returning $12 million to workers comp policyholders
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A $12 million dividend will be distributed to a majority of Workers Compensation Fund policyholders in May, Utah's insurer of last resort said Wednesday.
More than 19,000 Utah businesses will receive a portion of the $12 million policyholder dividend that's equal to 6% of their 2014 premium, Salt Lake City-based Workers Compensation Fund said in a statement.
“Policyholders are receiving a dividend because we had better-than-expected investment and underwriting results in 2014,” Workers Compensation Fund President and CEO Ray Pickup said in the statement. “Severe injuries declined, the overall number of claims decreased and the amount of payroll insured by (the fund) increased because of Utah's robust economy.”
With this distribution, the fund will have returned more than $382 million in dividends to its policyholders since 1992, it said.
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