EPB&B is pleased to share the following press release from our trusted Workers’ Compensation partner, SAIF Corporation.
For the past twenty years, EPB&B has proudly served on the SAIF Agency Council. It has been, and continues to be, our privilege to partner with a company so deeply committed to its customers and to the health and safety of Oregon’s workers.
| SAIF declares $50 million dividend To our agent partners: Today, SAIF declared a $50 million dividend for policyholders. The dividend will be distributed in October to policyholders based on their premium for policies whose term ended in 2024. The entire dividend will be distributed pro rata based on premium. Read the detailed dividend distribution process information in our FAQ. This is the 16th year in a row SAIF has been able to offer a dividend, and the 28th dividend since 1990. Our commitment to serving our customers will always be our most important focus. This year we carefully considered the current economic uncertainty and the rising trends we see in medical costs. Despite those challenges, SAIF’s strong fiscal position, effective claims handling, and proactive safety programs make this year’s dividend possible. 50,757 policyholders will receive the dividend. Read more in the press release. Dividend information will be available to agents through Business Online starting on September 17, and it will open up for policyholders on September 26. Policyholders are not eligible for a dividend if they were in default status for nonpayment of premium at 12:01 a.m. today. As with last year, if the policyholder has a current or past due balance on their account, SAIF will automatically apply the dividend toward that balance. If the dividend amount is greater than the current and/or past due balance, a check will be generated for the remainder of the dividend. This applies to both active and cancelled policies. Additionally, a letter will be mailed on September 17 to all cannabis and psilocybin related policyholders who will be eligible for a dividend, stating the amount and the ability to apply that as a future credit, if they choose. You will receive a copy of the letter. Policyholders who do not have any current or past due balances as of the end of the day September 24 will receive a check for their full dividend amount. Employers should continue to pay premium amounts currently or past due. Interest will accrue on any overdue amounts at the rate of 1% per month. Payments and payroll reports may be filed by policyholders by logging into their account at saif.com. We appreciate the continued contributions and assistance of you and all our agent partners. |
As we look ahead, EPB&B remains committed to continuing our long partnership with SAIF and supporting their mission to protect customers while promoting the health and safety of Oregon’s workers. Contact EPB&B and we can help find the right workers compensation plan to protect your business and your team.