VADA GSIA Returns Dividend for 11th Year in a Row

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$1.665 Million Dividend Declared for Current Year

The VADA Group Self-Insurance Association (VADA GSIA) has declared a $1.665 million dividend for the current year. This dividend includes funds from 15 plan years between 1996 and 2012. This marks the 11th straight year that VADA GSIA has declared a dividend in excess of $1 million, bringing the total to nearly $24.5 million over that time.

Unlike commercial insurance providers, VADA GSIA returns unused premiums (profits) to dealers in the form of dividends. These dividends result directly from dealer efforts to prevent claims and staff efforts to manage claims once they occur.

Dealers who keep claims low are rewarded. The dividend amount that a participating dealer receives is determined by its losses for that year in comparison to its premiums. By preventing accidents and keeping losses down, a dealer gets a higher dividend for that year! Dividend checks were sent to eligible members in August.

If you’re not a member of VADA GSIA and would like to learn more about the program, contact Michael Allen, VADA GSIA general manager, at (804) 545-3012.