The Arkansas Trucking Association Self-Insurers’ Fund has declared a $1 million dividend to 48 trucking companies that are enrolled in its workers’ compensation insurance trust.
The Arkansas Trucking Association created the insurance trust in 1993 to pay the workers’ compensation claims for employees injured on the job.
Employees of trucking companies that enrolled in the insurance group are covered. Since 1993, the trucking insurance fund has paid out almost $44 million to injured workers.
“We are so excited to be able to reward our member companies for excellent performance,” said Shannon Newton, the association’s president. “Our fund is evidence that small businesses can work together for mutual benefit. In this case, pooling with one another to cover the medical costs of their injured workers and be self-sustaining and financially stable.”
Newton said that the fund has distributed more than $22 million in dividends to enrolled trucking companies since the Arkansas Trucking Association created the fund. Dividends can be declared by the fund’s board of trustees after injury claims and other expenses are paid, and distribution is subject to approval by the Arkansas Workers’ Compensation Commission.
The association hopes to be able to distribute dividend checks at their annual meeting April 29 in Hot Springs. “Our member companies are true believers. Time and again, our fund has proven to be a reliable and affordable way to provide workers’ comp insurance,” said Newton. According to Newton, the Arkansas Workers’ Compensation Commission is expected to approve the dividend distribution within a few days.
