AUSTIN – The Texas Oil & Gas Association’s (TXOGA) Workers’ Compensation Safety Group today announced that member companies collectively earned $2.28 million in safety group dividends from Texas Mutual Insurance Company for prioritizing workplace safety and keeping the group’s loss ratio low. Texas Mutual, the state’s leading provider of workers’ compensation insurance, is a policyholder-owned company that recognizes policyholders’ commitment to workplace safety through dividends.
“The oil and natural industry takes workplace safety seriously, and this dividend from Texas Mutual is a well-deserved testament to this commitment,” said TXOGA President Todd Staples. “By adhering to high standards for workplace safety within the industry, TXOGA members will help to ensure that the irreplaceable resources that fuel modern life continue to be produced responsibly for years to come.”
“Workplace safety is essential to the success of any organization,” said TXOGA Insurance Agency President Neal Carlton. “We are proud to work in collaboration with longtime partners like Texas Mutual to prioritize safety best practices and proactively prevent accidents. This $2.28 million dividend reflects and rewards the commitment of Safety Group members.”
Many members of TXOGA participate in the Workers’ Compensation Safety Group with Texas Mutual, which offers free safety training and materials through TXOGA Safety Talks, as well as workers’ compensation premium discounts. The tools available to Texas oil and natural gas employers cover everything from driving safety, controlling struck-by incidents, chemical safety, and general rig inspection resources. In addition, employers can craft policies and programs that fit their individual needs by working with Texas Mutual’s safety services team.
TXOGA Workers’ Compensation Safety Group dividends are separate from Texas Mutual’s general dividends. This summer, Texas Mutual will distribute $330 million in general dividends to qualifying policyholders. Some TXOGA members may earn both Safety Group and general dividends from Texas Mutual.
Since 2001, members of the group have received $48,862,297 in Safety Group dividends and $385,212,650 in general policyholder dividends. Dividends are based on performance, are not guaranteed, and must comply with Texas Department of Insurance rules. For more information, visit www.txogainsurance.com.
“Safety in the workplace is everyone’s responsibility,” said TXOGA President Todd Staples. “TXOGA Safety Talks is a benefit for TXOGA members and Safety Group participants to help them adhere to high standards for workplace safety within the industry and ensure that Texas’ natural resources continue to be produced responsibly for years to come.”
“Workplace safety is always top of mind in the oil and natural gas industry,” said TXOGA Insurance Agency President Neal Carlton. “As part of our continued commitment to prioritizing safety, we are pleased to announce TXOGA Safety Talks, which offers our members an invaluable resource to introduce and reinforce safety best practices to employees.”
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Founded in 1919, TXOGA is the oldest and largest oil and gas trade association in Texas representing every facet of the industry.