(PRESS RELEASE) NEW YORK — Berkley Asset Protection (a Berkley Company) announced that it will pay a 29% dividend to eligible policyholders in its Workers Compensation Safety Group & Dividend Plan, which was created specifically for jewelry businesses in the United States. The dividend is a percentage of policyholders’ 2017 earned premium.
“We’re very pleased with the jewelers’ loss control efforts, which resulted in an 8.4% loss ratio and a large dividend percentage for 2017, our first year offering the program,” stated Joe Dowd, president of Berkley Asset Protection.
The Safety Group & Dividend Plan offers three major advantages:
1. Dividends up to 35% of policy premium paid to policyholders based on the group’s loss experience
2. Loss control help for a safer workplace
3. Return-to-work program to reduce costs and manage expenses when losses do occur
To be eligible for the dividend, policyholders must have been insured in the plan on December 31, 2017. The first dividend checks will be mailed to policyholders in mid-May. The Safety Group & Dividend Plan is offered exclusively to businesses in the jewelry and related trades, which include sale of retail jewelry, wholesale and manufacturing of jewelry, findings and parts, industry tools, gift boxes, etc.
A short video about the program is available on the company’s website here.
The Safety Group & Dividend Plan is available in all states, except Minnesota and Florida. Berkley Asset Protection’s standard Work Comp Program is available in all 50 states.