SAIF board declares $60 million dividend for policyholders

Nov. 9 -- SAIF Corporation's board of directors today declared a $60 million dividend for more than 41,000 policyholders. It is the first time since October 2000 that SAIF has declared a dividend.

SAIF policyholders with a policy expiration date in 2006 are eligible for the dividend. Policyholders in default, enrolled in the Assigned Risk Plan, or who have filed for bankruptcy protection while owing a premium are not eligible for a dividend.

Dividend information will be available to policyholders beginning November 19 through "Dividend Search" and "Dividend by Policy" on Business Online, which SAIF customers can access via the Employer Guide on saif.com.

Checks will be mailed to eligible SAIF policyholders during the week of December 10, 2007. Dividend amounts will range from 12.61 percent to 14.93 percent of standard premium.

For more information, see the "SAIF Dividend Q&A," which will be posted in the Employer Guide on saif.com at 5:00 p.m. on Monday, November 12.

SAIF officials said the state-chartered company is able to pay a dividend this year because of favorable investment performance and better-than-expected loss experience.

"We are proud to return $60 million to Oregon employers. Making workers' compensation affordable is what SAIF is all about," said President and CEO Brenda Rocklin. "Our vision is to make Oregon the safest place to work. Lower insurance costs enable employers to invest in making their workplaces safer and support the economy."