The Madison-based Rural Mutual Insurance Co. delivered more than $1 million of its inaugural Farm Dividend program since January. The company expects to pay out about $2.5 million by the end of 2017, where more than 3,000 policyholders have already
received their checks.
"Rural Mutual has strong roots in the farming community, and premiums paid here stay here in Wisconsin," said Rural Mutual CEO Peter Pelizza. "We're happy to be in a position to give back to our loyal customers."
The company's board of directors approved the Farm Dividend program in 2016 because of its strong financial balance sheet. Through the program, a five percent dividend payment is made to qualifying Rural Mutual farm policyholders. Each qualifying
policyholder will receive a dividend no matter their loss experience.