The Motor Transport Association of Connecticut (MTAC) announced today that its commercial insurance program has now paid out more than $1 million in total dividends directly back to MTAC members that participate in the program. The underwriting carrier, Acadia Insurance, determined that the third and final evaluation for plan year ending Sept. 30, 2018 will pay dividends totaling $276,621, plus, the first evaluation for plan year ending Sept. 30, 2020 will pay dividends totaling $104,835. With these figures being added to dividends paid in previous years, total dividends paid since the program was created now amount to $1.32 million.
“This is a huge milestone for our insurance program,” said Joe Sculley, president of MTAC. “Our partnership with Acadia, and the program’s sponsoring agent Bouvier Insurance, is saving our members money on one of the largest expenses a small business trucking company faces,” he said. Sculley added that this is the fourth consecutive calendar year in which dividends have been paid under the program.
“We are so pleased to be able to present these dividends to the members who are in the program,” said Artemis Tsagaris, Regional Vice President & Branch Manager for Acadia Insurance. “The dividends were paid because the appropriate loss ratios were met, so this program is a great incentive for workplace safety,” Tsagaris said.
“What’s nice about this program is that it pays dividends on all lines (except umbrella policies) of commercial insurance, not just one line,” said Rob Bouvier, President of Bouvier Insurance.
Under the Safety Group program, dividends are earned when both the group’s loss ratio and the individual customer loss ratio meet the plan’s thresholds. Businesses who are interested in joining the Safety Group program can take a first step by reaching out to the program’s sponsoring agent, Bouvier Insurance. Any Acadia agent can also obtain coverage through the program for qualified clients.