NELMA and Acadia Insurance are pleased to announce a dividend payment to the Northeastern Lumber Manufacturers Safety Group for the 2005 Plan year. Policies effective this Plan year received the first dividend valuation effective March 31, 2007, earning an 8% dividend factor. This is the second adjustment for this Plan year resulting in an additional 4% dividend factor based on the group’s 8.63% loss ratio. Acadia is pleased to distribute dividends to qualifying Northeastern Lumber Manufacturers Safety Group members representing the second adjustment for the Plan year of the Dividend Fund totaling $83,797.
While the average dividend for the second adjustment is 4%, those accounts whose loss ratio fell under 20% will receive the preferred dividend factor of 4.25%.
The dividend plan provides three separate valuation periods for each plan year with a potential to earn a dividend payout of 16% (upon the third and final valuation) within the average tier (20% - 40% loss ratio). All insureds will receive a letter explaining the dividend and detailing their individual results as well as the group’s results.
The Northeastern Lumber Manufacturers Safety Group Insurance Program is open to all NELMA members located within Acadia’s insurance coverage. The Association greatly appreciates the participation of those members that continue to choose to be a part of the Group and appreciates your support in making this a growing and profitable program. For non-participating members, we encourage each of you to take a close look at the benefits of being part of the program. Feel free to contact NELMA, your local Acadia Underwriter, or Kerry McGrath, Senior Branch Marketing Director with Acadia Insurance at (800) 224-2302, extension 304.
