Nearly $550,000 in insurance dividends paid out to MTAC members

MTAC is very pleased to share the message below, which is from our partner Acadia Insurance. This is great news about our commercial “Safety Group” insurance program. Any member who is interested in getting involved with this program should reach out to the program’s sponsoring agent, another one of MTAC’s official partners, Bouvier Insurance.

Acadia Announces Motor Transport Association of Connecticut (MTAC) Safety Group Program Dividend Valuations* for 2018, 2019 and 2020 Plan Years

We are very pleased to announce that Acadia’s MTAC safety group has earned total dividends of $549,264 as of the September 30, 2022 evaluation of the program’s 2018, 2019 and 2020 plan years! As you know, the MTAC program is an all lines (excluding umbrella) program that provides participating insureds the opportunity to earn dividends based on group and individual performance with three separate evaluations for each plan year.

Below are the results for the 2018, 2019 and 2020 plan years:

2018-19 Plan Year – Third and Final Adjustment

The third and final adjustment for this plan year yielded a dividend fund of $344,652 providing qualifying plan participants a total dividend payment factor of 7.22% for all plan years.

2019-20 Plan Year – Second of Three Adjustments

The second adjustment for the 2019 plan year earned an additional dividend of 104,658. This is in addition to the first evaluation dividend of $104,835 thus bringing the total for this plan year to $209,493. The third and final adjustment will be completed as of September 30, 2023.

2020-21 Plan Year – First of Three Adjustments

The first of three adjustments for this plan year yielded a dividend fund of $99,954. The second of three adjustments will be completed as of September 30, 2023.

In the ten years since program inception, the MTAC Safety Group has paid out over $1.8 million in dividends to qualifying insureds. We will be delivering insured dividend letters and checks to their respective agencies soon.

This program is open to all appointed Acadia agencies.