KEMI Issues $6.2 Million Dividend and Lowers Rates
Kentucky Employers’ Mutual Insurance (KEMI) has issued a dividend of $6.2 million for current policyholders who meet certain criteria for the 2010 policy year.
Dividend payments rewarded KEMI policyholders who demonstrated their commitment to workplace safety and effective claims management.
The decision by KEMI’s Board of Directors followed an extensive review by independent actuaries who analyzed several factors, including KEMI’s policyholder equity, catastrophic loss exposure and overall financial performance.
Additionally, KEMI filed for an overall rate reduction of 2.5% effective January 1, 2014. The plan was approved by KEMI’s Board of Directors and was submitted to the Kentucky Department of Insurance for review and approval.
“Since 2010, KEMI has returned more than $40 million to its policyholders through rate reductions and dividends,” said Jon Stewart, President and CEO of KEMI. “KEMI is committed to sharing our success with our policyholders and believe these actions will encourage employers to control their workers’ compensation costs and reinvest in our economy.”
Posted September 3, 2013
Revised October 3, 2013