Members of the Texas Oil & Gas Association’s (TXOGA) Workers’ Compensation Safety Group have received $3.84 million in dividends from the Texas Mutual Insurance Company. The policyholder-owned company, Texas Mutual, distributes dividends to policyholders who maintain successful safety records.

According to a press release from the TXOGA Workers’ Compensation Safety Group, members participate in this group with Texas Mutual and receive dividends for prioritizing workplace safety and maintaining a low loss ratio. Since 2001, Texas Mutual has distributed $46,574,518 to group members.

"Workplace safety is paramount in the oil and natural gas industry, and this dividend from Texas Mutual is a testament to this industry’s continued commitment to safety," said Todd Staples, TXOGA President, in the press release. "By adhering to high standards for workplace safety within the industry, TXOGA members will help to ensure that Texas’ natural resources continue to be produced responsibly for years to come."

The press release also states that in addition to the dividends, Texas Mutual provides safety group members with free tools such as safety training and materials for Texas oil and natural gas employers. These resources cover driving safety, controlling struck-by incidents, chemical safety, and general rig inspection.

"Safety in the workplace is essential to the success of any organization," Neal Carlton, TXOGA Insurance Agency President stated in the press release. "It’s important to highlight the collective commitment of industry, in collaboration with partners like Texas Mutual, towards prioritizing safety practices and proactively preventing accidents."

Group dividends provided by Texas Mutual are not the same as individual dividends. Members of TXOGA can earn both types of dividends. Since 2001, group members have received $382,924,871 in individual policyholder dividends. This summer, Texas Mutual plans on distributing $350 million in individual dividends to qualifying policyholders.