SAIF’s board of directors has announced a $60 million dividend for its policyholders today. This continues a 15-year tradition of providing dividends, marking the 27th instance since 1990.
SAIF stands out as one of the few insurance providers in Oregon that consistently returns dividends to its customers. As a not-for-profit company with a public mission to make workers’ compensation coverage available, affordable, and accessible, it’s an important part of our value to policyholders.
“Our commitment to serving our customers with expertise and heart remains unwavering,” said Chip Terhune, president and CEO of SAIF. “After careful consideration of the uncertainty in the current economic landscape and medical trends, we believe offering this dividend to our policyholders is the appropriate thing to do.”
The decision to issue a policyholder dividend is based on various factors, including capital levels, claim trends, and the overall economic conditions.
SAIF’s robust financial health, successful claims management, and effective safety and health services enable us to offer this year’s dividend.
“Beyond dividends, we pride ourselves on our focus on workplace safety and having the largest network of safety professionals of any insurance company in Oregon,” added Terhune. “Our goal is to make Oregon the safest and healthiest place to work, and we value our policyholders’ dedication and partnership to ensuring their workers’ safety.”
This year, 51,288 policyholders will receive the dividend, which will be calculated based on the premium for policies that ended in 2023 and will be distributed in October.
About SAIF
SAIF is Oregon’s not-for-profit workers’ compensation insurance company. For more than 110 years, we’ve been taking care of injured workers, helping people get back to work, and striving to make Oregon the safest and healthiest place to work. For more information, visit the About SAIF page on saif.com.