The dividend follows an $8.2 million dividend paid in August 2021
Kentucky Employers’ Mutual Insurance (KEMI), Kentucky’s leading workers’ compensation insurance provider, is issuing a dividend of $8.3 million to eligible policyholders. The dividend is a result of proactive management of claims by KEMI and its policyholders.
“KEMI is one of the few insurance companies in Kentucky that pays dividends to clients,” said Jon Stewart, president and chief executive officer of KEMI. “Our steadfast commitment to responsible financial management is critical for positioning KEMI to give back to our policyholders.”
More than 14,000 policyholders will receive a 10% dividend payment from KEMI. To qualify, policyholders must:
- Have a current active policy with KEMI.
- Have had an active policy for all 12 months of 2019.
- Have had a loss ratio of less than or equal to 65% for the 2019 policy year.
Dividend checks will be distributed throughout the month of August.
Between 2010 and 2021, KEMI issued six dividend payments to policyholders totaling $61 million. Since 2011, KEMI has also systematically lowered noncoal rates by more than 40% resulting in substantial savings for policyholders. Stewart explained, “As a mutual insurance company, we continuously innovate so that we can identify ways to keep rates competitive.”