RetailFirst and BusinessFirst declare policyholders dividends

Carol Sipe
President and CEO
[email protected]



RetailFirst and BusinessFirst declare policyholders dividends

LAKELAND, Fla. (November 19, 2013)RetailFirst Insurance Company and BusinessFirst Insurance Company, monoline workers’ compensation insurance companies that comprise the RetailFirst Insurance Group, announced that their boards of directors have declared policyholder dividends of $776,000 for safety conscious policyholders. The dividends are for policies expiring during the second quarter of 2013.

Thomas S. Petcoff, president of both companies states, “We are dedicated to providing a strong, stable workers’ compensation market for our policyholders and independent agents. Declaring dividends is confirmation that we keep our promises to our policyholders.”

Policyholders of both companies have the potential to earn dividends based on their safety records and type of workers’ compensation policy. The companies’ competitive dividend programs give policyholders the opportunity to earn back a portion of their workers’ compensation premium at the end of each policy year. The lower a business keeps its total claims costs during a policy year, the higher the potential safety reward dividend. 

As of September 30, 2013, the companies have more than $100 million of premium in force, almost $300 million in assets and more than $143 million in policyholder surplus. 

RetailFirst Insurance Group companies insure more than 13,500 businesses throughout Florida, Kentucky, North Carolina and Tennessee. The Group is rated B++ (Good) by A.M. Best Company and has excess of loss reinsurance coverage provided by A+ rated Safety National Casualty Corporation. Day-to-day operations of the Group are managed by Summit Consulting LLC, a managing general agent with more than 35 years of experience in workers’ compensation. 

Workers’ compensation business submissions are accepted through independent agents. Information on agency appointments is available by calling Summit’s Agency Relations department at 1-800-282-7648. For more information about RetailFirst or BusinessFirst, visit or

Note: Dividends are declared at the discretion of the board of directors and are not guaranteed. Policyholders must meet minimum requirements to participate.