2019-03-13
More Than $5 Million Returned to Members: The Subscribers’ Advisory Board of United Educators Approves Dividend Distribution
Bethesda, MD — The Subscribers’ Advisory Board of United Educators Insurance (UE), a reciprocal risk retention group, today declared a dividend distribution payable to all renewing policyholders, subject to approval by the state of Vermont. The dividend will be paid 45 days following renewals occurring between May 1, 2019, and April 30, 2020. Dividend amounts will be based on the balance in the member’s Subscriber Savings Accounts (SSA); owners will receive 2% of their SSA account balance.
This marks the ninth consecutive year of dividend distributions to UE members and represents the Board’s continuing confidence in the company’s strong capital position, conservative investment portfolio, and stable profit levels. Since the Board first declared a dividend in 2011, more than $40 million has been returned to UE's members in the form of dividend distributions. The 2019 dividend payments are expected to exceed $5 million.
“Our members appreciate that through a UE insurance purchase, they are not only protected for losses, they are building an ownership share in education’s own insurance company,” said Janice M. Abraham, President and CEO of UE. “And, as they continue to take meaningful steps to prevent claims, we are able to continue our track record of financial stability and a commitment to covering the exposures most important to education."
More than 1,600 K-12 schools, colleges, and universities rely on UE for liability insurance. In addition to addressing the unique risks posed by education — such as athletic injuries and tenure issues — UE has taken a thoughtful approach to continued coverage for sexual abuse in response to growing concerns for prevention and protection.