LEXINGTON, Ky. (Sept. 5, 2013) — Kentucky Employers’ Mutual Insurance (KEMI) will issue a dividend of $6.2 million for current policyholders who meet certain eligibility criteria for the 2010 policy year.
Dividend payments are currently being calculated and will reward KEMI policyholders who have 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 plans to file for an overall rate reduction of 2.5 percent effective Jan. 1, 2014. The plan was also approved by KEMI’s Board of Directors and will be 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.”