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We are pleased to announce that in May, Texas Mutual announced that its board of directors voted unanimously to approve a $340 million dividend distribution in 2023. Dividends will be distributed to qualifying policyholders in late June.
This year marks the 25th year that Texas Mutual is paying dividends to their more than 57,000 policyholders, bringing the total to over $4 billion back to Texas businesses since 1999.
You can log in to your Texas Mutual Online (TMO) account to see whether you will receive a dividend starting June 23. Your agent will be able to see dividend information for their qualifying clients starting June 5.
WHAT IS A DIVIDEND?
As a policyholder-owned company, Texas Mutual clients contribute to their success when they make safety a priority and choose to do business with Texas Mutual. There are two components to earning a dividend. Safety, paid through the annual component, and loyalty, paid through the retention component. Our newer Texas Mutual policyholders can also earn dividends through the early qualifier program, which is paid in November. Since 1999, Texas Mutual has distributed over $4 billion back to Texas businesses.
Dividends are based on performance, are not guaranteed and must comply with Texas Department of Insurance regulations.
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Claims Corner: Be Cautious of Phishing
Please be cautious when making payments online due to the ongoing rise of Phishing.
Phishing is where an attacker attempts to steal your money and or identity. Attackers will present themselves as person, web address, or email address similar to what you have seen on the past. Often times it is hard to notice the difference.
If you ever get an email asking to update and or change your payment information or other confidential information please follow up immediately with a phone call to the person or company you make your payments with. Taking that extra step can catch attackers before money is lost.
Here is an example of a recent claim:
A customer usually submits their payments every month online. The customer received an email stating the next month when they make a payment please use this link as we have updated our billing system link. Well the person on the other side of that email was Phishing to see if they could trick the customer into using that link and taking their money. It worked that person sent an email from an almost identical email address the only difference was they had changed an I in the email address to an L. At first glance the customer thought nothing of it, and thought this was in fact the same email address they usually get emails from. It wasn’t until the next month the customer was made aware that the company never received their payment. The customer had then realized they had been a victim of Phishing.
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If your utility rents a piece of equipment, you’ll probably be asked if you want to take the insurance offered by the rental company. Before you answer, give us a call.
If your utility owns equipment, you likely have a feature included in your policy that extends coverage to rented or leased equipment. If so, we’ll be happy to issue a certificate of insurance to the rental company that will relieve you from having to purchase the rental company’s insurance.
There is no charge for issuing the certificate; it is one of the services we offer our customers. If you have any questions, don’t hesitate to pick up the phone and give us a call.
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We officially celebrated Barbara and Glenn's official last day of work today.
As we enter 2023, we are excited (yet sad) to share that two of our leaders, Barbara Marzean and Glenn Hastings, have chosen to retire after more than 90 years (collectively) in the insurance industry. They have led this agency through many changes, challenges and success and they will both definitely be missed. We wish them well as they embark on the next chapter of their lives that will involve travel, relaxation and lots of time with their families.
WinStar will continue to operate with the same staff under the new leadership of President Stephanie Dew. Steph has been with the agency since 2010 and was previously the VP of Sales. We are confident that WinStar will continue to grow and flourish for many years to come.
Thank you again for putting your trust in WinStar Insurance Group. That will never be taken for granted. Wishing you and your families a Happy and Prosperous New Year!