FirstService Residential Buildings Net $1.1 Million in Dividends through Safety Group

Posted on Friday February 02, 2018

FirstService Residential is pleased to report that 265 of our managed properties collectively received $1,123,812 in dividends by participating in The Durnan Group’s Safety Group #561 – the largest and most successful Workers’ Compensation Safety Group for real estate in New York State.

The Safety Group declared a dividend of 25% for the 2016 - 2017 policy period. The dividend is in addition to the 25% upfront discount our clients received on the March 2017 standard renewal rates.

A safety group is a program that enables employers to pool their insurance premiums with the goal of reducing Workers’ Comp costs. When claims for a safety group come in significantly below the industry standard, a dividend is returned to the employers.

Dividend checks have been deposited in the operating account of participating buildings.

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