Alaska Timber Insurance Exchange Returns $1.0 Million to Alaskan Employers
Ketchikan, AK -- March 14, 2012 -- The Board of Governors of the Alaska Timber Insurance Exchange (ATIE), a policyholder owned workers’ compensation insurance company, announced on February 29, 2012 that a $1.0 million dividend will be paid to its members on March 5, 2012. The dividend represents approximately 18% of ATIE’s 2011 direct premiums and will be allocated to each member based upon their safety performance and ownership level.
The efforts by ATIE’s members to maintain safe workplaces have been a significant part of its continued success. Almost $14 million in dividends have been paid to its members over the last ten years with the period being marked by improved loss frequency.
ATIE is a policyholder owned insurance company specializing in providing workers’ compensation insurance for Alaskan employers. Headquartered in Ketchikan, Alaska, ATIE was formed in 1980 by members of the Alaska Loggers Association (now the Alaska Forest Association). Initially ATIE’s membership was concentrated in the forest products industry but it now includes a diverse group of employers located throughout Alaska. ATIE is financially strong, earning an “A-” (Excellent) from AM Best, an independent insurance rating service.
ATIE’s workers’ compensation insurance coverage is available through Conrad Houston Insurance, Davies-Barry Insurance, Denali Alaskan Insurance, Parker Smith and Feek, Inc., Patterson Insurance Brokers Inc. and Shattuck and Grummett, Inc.