(NEW YORK) – Berkley Asset Protection, a Berkley Company, is preparing to disperse this year’s dividends to eligible policyholders in its Workers’ Compensation Safety Group & Dividend Plans. Dividends represent a percentage of 2019 earned premium based on the loss ratio of each group and the dividends for 2021 range from 12% to 35%. To be eligible for the dividend, policyholders must have been insured in a plan by December 31, 2019.
Berkley Asset Protection created the Workers’ Compensation Safety Group & Dividend Plans as an incentive for businesses to focus on safety for their employees, one of their most important assets.
“Members of our Safety Group have shown a dedication to safety and loss prevention,” says Berkley Asset Protection President Chip Dowd. “We are pleased with the results and happy to reward members for their diligence.”
Safety Group & Dividend Plans offer three major advantages:
- Dividends up to 35% of policy premium paid to policyholders based on the group’s loss experience
- Loss control help for a safer workplace
- Return-to-work program to reduce costs and manage expenses when losses do occur
Berkley Asset Protection’s Safety Group & Dividend Plans are offered exclusively to businesses in each plan’s specified industry. The Jewelers Plan is open to businesses engaged in the sale of retail jewelry, wholesale and manufacturing of jewelry, findings and parts, industry tools, gift boxes, and other products associated with jewelry retail and manufacturing. The Fine Art Plan includes museums, art galleries, colleges and universities, artist foundations and more.
The Safety Group & Dividend Plans are available in all states, except Minnesota and Florida. Berkley Asset Protection’s standard Workers’ Compensation Program is available in all states, except those with a monopolistic state fund.
For more information, visit the Berkley Asset Protection Workers Compensation page.
Berkley Asset Protection is a leading specialty insurance provider that offers insurance for all aspects of jewelry and fine arts businesses: jewelers block, fine art, museums, commercial property and liability, and workers’ compensation. The company also offers Lavalier Personal Jewelry Insurance and coverage for individuals’ collections.