Good news for organizations insured with FIG! They will soon be receiving a check equal to 5% of their 2015 premium payments. The Friends Insurance Group (FIG) is the organization that provides insurance coverage to most of our meetings through a Master Program, supported by PYM staff. Dividends are a benefit of insuring with the Friends Insurance Group: when FIG performs profitably, the dividend returns premium dollars back to the participating organizations. At its annual meeting on April 7, FIG announced a 5% dividend for 2015, payable in May.
The dividend is based on a combined five years of “loss experience.” (Loss experience is the ratio of total claims paid to total premiums earned.) For the five years from 2011 through 2015, FIG enjoyed a favorable loss experience and good financial results.
Operating nationally, FIG provides insurance to 285 Friends meetings and churches, yearly meetings, schools, camps, retirement communities and organizations through GuideOne Insurance. The PYM Master Program is FIG’s largest yearly meeting policy, covering 99 monthly meetings, 10 schools and 8 other Friends organizations within PYM. The value of the 2015 dividend across the PYM Master Program is $110,669. Participants will be hearing directly from our insurance agent, Univest, with more information about their individual dividends.