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State Insurance Fund Issues $10 Million Dividend
Oklahoma City, OK--On Tuesday, June 26th the Oklahoma State Insurance Fund's Board
of Managers approved a $10 million dividend for its 20,000 policyholders. The
dividend marks yet another strong year for the Fund and its policyholders.
"Our strong performance is a credit to the efforts of our policyholders and the Fund,"
said Fund Commissioner Terry McCullar. "From claims handling to our fraud department
we have been successful in holding down rates, and the experience of our policyholders
has given us the extra security to reward their efforts for yet another year."
The largest workers' compensation insurance provider in Oklahoma, the Fund has not had
a rate increase since 1995 and has dropped rates by 32 percent since that time. This
dividend brings the total to more than $62 million the Fund has refunded its
policyholders over the past four years.
Among the policyholders that benefit from the dividends is the State of Oklahoma
who directs their portion to the Multiple Injury Trust Fund. Through their dividend,
Oklahoma workers with permanent disabilities will again begin to receive their checks.
Effective July 1, the Oklahoma State Insurance Fund, currently the largest workers'
compensation insurance carrier in the state, will officially change its name to
CompSource Oklahoma.
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