Lovell Safety Management Co., LLC, announced the 2007 – 2008 dividend earnings of two of its Safety Groups:
- New York Electrical Manufacturers, Safety Group #140
- New York State Movers and Warehousemen’s Association, Safety Group #251
Safety Group #140 paid a 25 percent dividend, or 35.6 percent of premium. Qualifying members received an advanced discount of 20 percent.
Group #251 returned to members a 25 percent dividend, or 32.5 percent of premium. Qualifying members received an advanced discount of 25 percent.
Lovell Safety groups are fully insured, non-profit entities that return any underwriting profit to group members. Any extra premium dollars collected-not used to pay losses or expenses-can be returned to members in the form of a dividend. Lovell Safety Groups provide businesses with the benefits of a guaranteed cost premium with additional savings earned through dividends.