Montana State Fund Declares $20 Million Dividend

Even during a pandemic where hundreds of businesses shut down and thousands lost their jobs, the Montana State Fund still declared a $20 million dividend that it is returning to policyholders.

President and CEO of the Montana State Fund, Laurence Hubbard announced the dividend on Tuesday, despite the coronavirus shutdowns.

“The fact that we're in a pandemic situation in Montana is coincidental with what the board normally would discuss,” said Hubbard. “Consider that is whether or not we're in the financial strength enough to return a portion of our savings essentially back to deserving customers who have been doing the hard work of protecting Montana workers and their employees from injury and accident on the jobs.”

The most important thing is that people are paying attention to workplace safety that is becoming more of a cultural value in the workplace,” he said. “Workers that learn the safety practices that they need to have on the job and the skills and then being comfortable speaking up when they see an unsafe condition and preventing those accidents from happening in the first place are what made the difference.

Hubbard said the credit goes to rank and file employees and their supervisors for the excellent results.

“Well, I think the most important thing is that people are paying attention to workplace safety that is becoming more of a cultural value in the workplace,” he said. “Workers that learn the safety practices that they need to have on the job and the skills and then being comfortable speaking up when they see an unsafe condition and preventing those accidents from happening in the first place are what made the difference.”

Hubbard said Montana Workers Compensation protection also applies to those who are working from home.

“The short answer is yes,” he said. “If they're on the job, and they're working, regardless of they're working in a downtown office or in a home office that the employer has sanctioned and required them to do, as long as an injury is still related to something on the job then it is compensable into the workers compensation system.”

The $20 million dividend will be paid to more than 22,000 Montana employers with the average dividend being nearly $900 which represents nearly a 15% return of premium––on average.

This is the 22^nd consecutive year that the Montana State Fund has declared a dividend to return to their customers.

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