Jewelers Mutual Announces Dividend

Commercial policyholders of Jewelers Mutual Insurance got a $5.2 million dividend in August—the largest in the company's 91-year history. JMI, headquartered in Neenah, Wis., is the only U.S. insurer specializing in jewelry and jewelers and also is the nation's largest jewelry insurer. The payout was due to exceptional financial results for 2003, a "solid, successful year," said Ron Harder, JMI president and chief executive officer. Policyholders insured for a year or more as of March 31, 2004, received a dividend of 8% of their current premium. Those insured for less than a year as of March 31 received a dividend of 4% of their current premium. Harder credited the company's successful year to its ongoing commitment to safety and security and to its policyholders' efforts to reduce the frequency of losses. "However, jewelers must remain alert. The severity of losses—the dollar a

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