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The Texas Cotton Ginners’ Trust is
celebrating the completion of
another profitable year at its
Annual Meeting in Lubbock.
The Trust was formed by the Texas
Cotton Ginners’ Association in 1994 in
response to the Texas gin industry’s
demand for stable, affordable workers’
compensation insurance coverage.
During the past 17 years since its
founding, the Trust has grown to provide
coverage for 78 percent of the gins in
Texas, as well as other agricultural businesses
across the state. The Trust’s
Producer Program now offers the protection
of workers’ compensation coverage
for employees of cotton producers who
gin with members of the Trust.
The Trust provides its members both
hard savings in dividends paid back and
“soft” savings in premiums the members
never had to pay to a commercial insurance
carrier because the Trust was there
to provide that coverage in times of a
restricted market.
The Trust paid $3.7 million in dividends
in 2010, the fourth record dividend
in as many years. Another record dividend
is expected to be announced at the
2011 Annual Meeting.
More than $17.5 million has been
returned to the members who participated
in the first 14 years of the Trust’s program.
More than 19 percent of premiums paid
in those years has been returned.
The Trust’s Safety Credit, which is available
to member gins, returned an additional
$357,000 to the members who
qualified in 2010.
The Trust continues to improve safety
service to members and their employees
through its sponsorship of the Texas
Cotton Ginners’ Association Safety
Seminars, on-site safety training, its
Certified Safety Trainer (CST) program,
weekly safety training bulletins and other
safety initiatives.
This year’s Annual Meeting of the Trust
is scheduled for 2:30 p.m. on Friday, April
1 in the Banquet Hall of the Lubbock
Memorial Civic Center. The meeting
agenda will provide an update on Trust
activities, a report on the financial position
of the Trust and the announcement of
the dividend to be paid this year. Three of
the nine trustee positions will be up for
election at the meeting.
The Trust will once again be located in
Booth No. 1 at this year’s Trade Show.
Please pay them a visit and learn what’s
in store for 2011. |
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