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Acadia Insurance Announces Dividend for the NELMA Safety Group2010-05-21
 

Acadia Insurance is pleased to announce a dividend payment to the Northeastern Lumber Manufacturers Safety Group for the 2007 and 2008 Plan years.   For the 2008 Plan year, this is the first adjustment resulting in a Dividend Fund of $114,134.   In addition, we are pleased to announce a dividend payment for the 2007 Plan year, resulting in a Dividend Fund of $232,498. This is the second adjustment for the 2007 Plan year.

Acadia is pleased to distribute dividends to qualifying Northeastern Lumber Manufacturers Safety Group members representing the first adjustment for 2008 and second adjustment for 2007, respectively.   Dividend checks for those qualifying insureds are being distributed to the insureds, along with a letter explaining the dividend and detailing their individual results as well as the group’s results based on the information below:
 
Plan Year 2008 – 2009 (First Adjustment)

Earned Premiums
Losses
Loss Ratio
Dividend Factor
Dividend Fund $
$1,426,677
$61,250
4.29%
8.0%
$114,134
 
While the average dividend for the first adjustment is 8%, those accounts whose loss ratio fell under 20% will receive the preferred dividend factor of 8.182%.
 

Plan Year 2007-2008 (Second Adjustment)

Earned Premiums
Losses
Loss Ratio
Dividend Factor
Dividend Fund $
$1,956,431
$388,293
20.00%
4.0%
$232,498
 
While the average dividend for the second adjustment is 4%, those accounts whose loss ratio fell under 20% will receive the preferred dividend factor of 4.534%
 

Plan Year 2006-2007 (Third Adjustment)

Earned Premiums
Losses
Loss Ratio
Dividend Factor
Dividend Fund $
$2,649,162
$1,751,231
66.00%
0%
$0
 
The third and final valuation for the 2006 Plan year was completed based on losses valued March 31, 2010.   Unfortunately, the 2006 Plan Year does not generate a dividend due to a loss ratio of 66% for the group as a whole.
 

The dividend plan provides three separate valuation periods for each plan year with a potential to earn a dividend payout of 16% (upon the third and final valuation) within the average tier (20% - 40% loss ratio).
 
The Northeastern Lumber Manufacturers Safety Group participants would like to thank Acadia Insurance and its network of local agents for their continued support in making this Program possible.   If you are a NELMA member and are not part of the Program, find out how your company may participate by contacting your local Acadia Insurance Underwriter or call NELMA at 207-829-6901.
 
Important Note: Dividends are based upon experience, are subject to Board approval and the terms and conditions of the Program, and are not guaranteed.   The amount of dividends paid in the past are not indicative of what may be payable in the future.

 

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Eastern White Pine VS. Radiata Pine. Learn about these two species in a side by side comparison. Who will be victorious?

 

Founded in 1933, the Northeastern Lumber Manufacturer's Association (NELMA) is one of seven lumber rules writing agencies in the U.S. accredited by the American Lumber Standard Committee (ALSC) to write grade rules that are certified as conforming to the American Softwood Lumber Standard PS20.  NELMA is the official author and administrator of the grading rules for Eastern White Pine, in particular.

In addition to the quality control inspection audits we conduct at lumber manufacturers to ensure that on-grade Eastern White Pine products are meeting the needs of consumers, NELMA develops and distributes an array of technical information and unique promotional materials via our member-driven marketing program.  We encourage you to browse through the pages of this website and discover why Eastern White Pine is the very best choice when wood is considered, both environmentally sustainable and application versatile.