2018 Dividend Declared for Business Insurance Program
million in dividends returned to ChamberChoice
Penn National Insurance has
announced a 10% dividend for the sixth program year of the ChamberChoice Business Insurance program.
Members of the Chamber Choice Business Insurance Program, who placed their
insurance coverage with Penn National Insurance during the 2016/2017 program
year and remained chamber members and policyholders through the end of the program
year, will receive a dividend equal to 10% of their total business insurance
premium (excluding Umbrella premium). Over the past five years, Penn National
Insurance has returned an average of 7.4% in dividends and returned to the
business community and region over $9 million in total.
An important aspect of this group
insurance program is preventing loss and controlling claims costs. Because
dividends are based on the group’s collective loss experience, a business that
may have had a significant loss may still be eligible to receive a dividend.
The program is sold exclusively
through local, independent agents who can offer chamber members a variety of
coverages and pricing on property and casualty insurance, including
businessowners, commercial auto, general liability, inland marine and workers’
compensation. Dividends are paid on all of these coverages. In addition,
through safety consulting, Penn National Insurance and local independent
insurance agencies encourage member businesses to develop safety practices to
substantially reduce or eliminate workplace injuries.