SAIF declared a $100 million dividend for policyholders. It comes at a difficult time for many Oregon businesses facing the challenges of the COVID-19 pandemic.
“Oregon’s employers and their employees make dividends possible by working together to prevent workplace injuries and illnesses,” said Kerry Barnett, president and CEO. “Every business is being impacted by the COVID-19 pandemic, and SAIF is no different. We are seeing declines in our premiums, investment returns, and overall capital. However, after careful consideration, we felt a dividend was the right thing to do to support our policyholders through this challenge.”
The dividend will be based on premium for policies whose annual term ended in 2019 and will be distributed in October. This is the eleventh year in a row SAIF has been able to offer a dividend, and the 23rd dividend in the past 30 years. More information will be available on saif.com in September.
During the pandemic, SAIF has remained open for business, serving Oregon’s employers and workers. This has included taking steps to help injured workers who faced challenges accessing care and working to reduce the financial burden on businesses.
SAIF also created the $25 million coronavirus worker safety fund, making more than 3,400 awards to businesses for expenses tied to making workplaces safer against the virus.