Record $20 million dividend for Minn. trust groupby Dan Gunderson, Minnesota Public Radio
St. Paul, Minn. — The trust that insures most Minnesota counties is returning a record $20 million dividend.
The Minnesota Counties Intergovernmental Insurance Trust insures 81 Minnesota counties and smaller groups like fair boards and watershed districts.
Executive Director Robyn Sikes said those groups will share the $20 million dividend this year, and will see lower rates next year.
Sikes said the trust investments did better than expected and claims are down, and the economy might be one reason there are fewer claims.
"We used to see claims relative to land use and I think, as we have seen a little less development going on because of the economic environment, we're not seeing people that are disgruntled or grieved by the actions, so we see fewer of those claims," Sikes said.
Sikes said the trust has also made changes to get injured workers back on the job more quickly and lower the cost of workers compensation claims.
The trust has returned dividends totaling nearly $198 million since 1996, this year's dividend being the largest, Sikes said.