Sends dividend checks to work comp policyholders
(NEW YORK) – Berkley Asset Protection (a Berkley Company) continues to help protect business and employees as it mails dividend checks to eligible policyholders in its Workers Compensation Safety Group & Dividend Plans. These dividends – which totaled nearly $93,000 in 2020 and 2019 when the program started – incentivize businesses to care for their employees, one of their most important assets.
The dividend is a percentage of policyholders’ 2018 earned premium based on the loss ratio of each group.
“The dividends paid in 2020 range from 8% to 35%, the maximum allowed by the plans,” stated Chip Dowd, President of Berkley Asset Protection. To be eligible for the dividend, policyholders must have been insured in the plan on December 31, 2018.
- Jewelers Plan policyholders earned an 8% dividend based on the 2018 loss ratio.
- Fine Art Plan policyholders will receive the maximum 35% based on the 2018 loss experience.
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 includes sale of retail jewelry, wholesale and manufacturing of jewelry, findings and parts, industry tools, gift boxes, etc.
A short video (https://berkleyassetpro.com/insurance-workers-compensation/) about the program is available on the company’s website.
The Safety Group & Dividend Plans are available in all states, except Minnesota and Florida. Berkley Asset Protection’s standard Work Comp Program is available in all 50 states.
Berkley Asset Protection, a Berkley company, 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 (https://lavalier.com/) and coverage for individuals’ collections.
For information about Berkley Asset Protection, visit www.BerkleyAssetPro.com. Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued.