, /PRNewswire/ — The Retailers Casualty Insurance Company board of directors has declared a $1 million distribution payable for policies with effective dates in 2024, and distributions to qualifying policyholders have been issued.
Each distribution is in proportion to qualifying policyholder premium and loss ratio—the better their record, the higher the return. The maximum amount of distribution paid to qualifying policyholders with zero losses will be 8.1% of their normal premium. Policyholders must meet minimum eligibility requirements, and future distributions are at the board’s discretion and not guaranteed.
“Our policyholders continue to demonstrate a strong commitment to workplace safety, and we’re proud to share the results of that effort. Retailers Casualty Insurance Company was built on collaboration and relationships, and this distribution reflects the value of employers who prioritize protecting their teams every day,” states Frank Brame, chair of the Retailers Casualty board of directors.
“Summit works closely with policyholders to help strengthen safety practices and manage claims effectively, and those efforts directly contribute to making distributions like this possible,” says Chris Neyrey, vice president responsible for Summit’s Southwest Region. “When you combine that level of support with the potential for financial returns, Retailers Casualty remains one of the most competitive and rewarding workers’ compensation programs available.”
Retailers Casualty is managed by Summit Consulting LLC (DBA Summit. Know the people who know workers’ comp LLC). Summit has more than 40 years of experience in workers’ compensation and provides underwriting, policy administration, claims management and loss prevention services to Retailers Casualty Insurance Company policyholders.
About Summit
Based in Lakeland, Florida, Summit is a leading regional provider of workers’ compensation insurance coverage in the United States and is a member of Great American Insurance Group. Summit manages the day-to-day operations of six workers’ compensation insurance companies that include its three affiliates, Bridgefield Employers Insurance Company, Bridgefield Casualty Insurance Company, and Bridgefield Indemnity Insurance Company, and three non-affiliates, BusinessFirst Insurance Company, RetailFirst Insurance Company, and Retailers Casualty Insurance Company. Summit provides its comprehensive workers’ compensation insurance services to businesses in Alabama, Arkansas, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Mississippi, North Carolina, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, and Virginia. Summit has offices in Lakeland, Florida, Baton Rouge, Louisiana, and Gainesville, Georgia. For more information, visit www.summitholdings.com.
SOURCE Retailers Casualty Insurance Company
