Texas Public Entities Earn $200K from Work Comp Dividend Plan
The Board of Trustees of Texas Political Subdivisions JSIF has voted to approve $200,000 in workers’ compensation insurance dividend payments to member local government entities throughout Texas. Each public entity’s fund contribution, loyalty and loss ratio were factors in determining their dividend eligibility and the amount of their dividend.
Pursuant to Texas law, public entities may reduce their insurance premiums by purchasing coverage through an interlocal pooling program. Texas Political Subdivisions JSIF (TPS) was formed in 1983 exclusively for public entities, providing qualifying members such as school districts, counties, cities and other public entities with competitive workers’ compensation and property and casualty coverages.
TPS also offers free loss prevention services, which helps its members safety programs achieve improved loss ratios.
Appointed licensed insurance agents may submit any qualified Texas public entity to TPS for quotes on one or more lines of coverage. TPS notes that future dividends are not guaranteed.
Source: Texas Political Subdivisions
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