Approximately 23 to 27 percent of the premium employers paid in 2014 will come back to them when checks are distributed in October.
When thousands of companies all focus on health and safety, good things happen.
Due to a joint effort between SAIF and its policyholders to make workplaces healthier and reduce on-the-job injuries, more than 47,000 Oregon employers will receive a dividend in October.
SAIF’s Board of Directors announced the $120 million dividend today. It amounts to a return of approximately 23 to 27 percent of premium that eligible customers paid in 2014.
“The most important dividend is the one received by workers who aren’t suffering the pain and anguish of a workplace injury,” said President and CEO Kerry Barnett. “Our employers have earned this by making their workplaces safer and reducing the costs of on-the-job injuries.”
“Our goal is to make Oregon the safest and healthiest place to work, and this is another sign that we’re headed in the right direction,” he said.
The dividend is possible because of SAIF’s overall financial results, including investment returns and favorable trends in claim costs. In recent years, there has been a particular emphasis on overall worker health and wellness, which is closely connected to prevention of workplace injuries.
Approximately 85 percent of the 47,000 employers who will receive dividends are small businesses. SAIF board chair Jenny Ulum said small businesses and their workers will especially appreciate the dividend because they often have less ready access to capital to seed growth or invest in additional safety measures.
This is the sixth year in a row in which SAIF has returned a substantial dividend to its customers.
SAIF Corporation is Oregon’s not-for-profit, state-chartered workers’ compensation insurance company. Since 1914 it has been caring for injured workers and helping to make workplaces safer.
For more information about SAIF, go to the About SAIF page on saif.com.