The Board of Directors of Montana State Fund (MSF)—the state’s largest workers’ compensation insurance company—declared a record dividend to be paid to qualifying policyholders. The $40 million dividend declaration brings the total returned to policyholders since 1999 to $216 million. The average dividend for qualified policyholders represents nearly 28% of their paid premium.
Historically, Montana is among the highest in the nation in workplace accidents and fatalities. Most years, Montana experiences more on-the-job injuries and fatalities than any other state in the nation. This is true regardless of industry. From logging, mining and agriculture, to clerical or the hospitality industry—Montana experiences 1.5 times higher accident frequency than the national average. Even compared to our neighboring states, our accident frequency is higher—despite having similar geographies, climates, industries and populations.
“Although we are making progress in terms of workplace safety, there is much room for improvement. It is important that Montana employers and workers remain dedicated to improving the Montana safety culture, necessary to not only save lives, but to also reduce workers’ compensation costs. We want to see workers returning home to their families at the end of the day, instead of going to the emergency room—or worse. That is why we are proud to reward the safety successes of our policyholders with this dividend,” said MSF President and CEO, Laurence Hubbard.