LAKELAND, Fla. (November 19, 2013)—BusinessFirst Insurance Company, a monoline workers’ compensation insurance company, is pleased to announce that its board of directors has declared policyholder dividends for safety-conscious policyholders. The dividends are for policies expiring during the second quarter of 2013.
Thomas S. Petcoff, president of the company states, “We are dedicated to providing a strong, stable workers’ compensation market for our policyholders and independent agents. Declaring dividends is confirmation that we keep our promises to our policyholders.”
Policyholders have the potential to earn dividends based on their safety records and type of workers’ compensation policy. BusinessFirst’s competitive dividend programs give policyholders the opportunity to earn back a portion of their workers’ compensation premium at the end of each policy year. The lower a business keeps its total claims costs during a policy year, the higher the potential safety dividend.
BusinessFirst Insurance Company and affiliate RetailFirst Insurance Company comprise RetailFirst Insurance Group. As of September 30, 2013, the companies have more than $100 million of premium in force, almost $300 million in assets and more than $143 million in policyholder surplus.
RetailFirst Insurance Group companies insure more than 13,500 businesses throughout Florida, Kentucky, North Carolina and Tennessee. The Group is rated B++ (Good) by A.M. Best Company and has excess of loss reinsurance coverage provided by A+ rated Safety National Casualty Corporation. The day-to-day operations of the Group are managed by Summit Consulting LLC, a managing general agent with more than 35 years of experience in workers’ compensation.
Workers’ compensation business submissions for BusinessFirst are accepted through independent agents. Information on agency appointments is available by calling Summit’s Agency Relations department at 1-800-282-7648. For more information about BusinessFirst, visit www.summitholdings.com.
Note: Dividends are declared at the discretion of the board of directors and are not guaranteed. Policyholders must meet minimum requirements to participate.