Utah Fund Sending $40 Million to Policyholders

Workers Compensation Fund of Utah is paying $40 million in dividends to approximately 22,500 policyholders this year, with payments starting this month. The dividend, which largely resulted from WCF investment results, marks the insurance company's largest dividend payment ever.

"During 1997, WCF liquidated its portfolios of stock investments, realizing gains that have accumulated over the last few years of the full market," says Lane A. Summerhays, WCF president and CEO. "As a mutual company owned by its policyholders, each eligible policyholder shares these gains."

The dividend was slightly more than 35 percent. The amount for individual customers is dependent on the premium paid and claim experience for the year.

"This marks the eighth consecutive year policyholders have enjoyed annual dividends," Summerhays says. "We're operating efficiently in an increasingly competitive industry and are elated to exceed our dividend pay-out goal for our policyholders."