2022 Results – 9 Month Review

In the last MTM newsletter I announced that MTM management and Board decided to move the traditional annual members’ meeting from October to March. The goal was to try a different time of year in hopes of improving turnout among members. One of the draws besides great speakers and meeting other MTM shop owners would be that in March we will know final yearend results. What a nice enhancement to the members’ meeting, instead of talking about a possible members’ dividend we hand out members’ dividend checks.

Here is the latest meeting news. Our speakers are Quentin L. Messer from the MEDC as well as Jason Piasecki from Revel who will be covering topics such as manufacturing’s economic challenges and solutions as well as employer branding, what it is and why it matters. We are in the process of putting together our traditional gifts and prize pool. The MTM meeting team picked the Italian American Club of Livonia which is on 5 Mile Rd. just off of Interstate 275 as our new location. It is a beautiful facility that we are excited to try. So not only do we have a new date but a new location that we are hopeful will provide an enjoyable and beneficial afternoon for those that attend.

An important part of the October meeting was to give you an update on how the results of the calendar year look and what the early prospects for the member dividends are. Here’s a look at 2022 results so far. Using the data through September 30th combined with our actuarial study that was completed with June 30th data, it looks like we will have a positive year and a 9th consecutive member dividend. It is always possible that results or a catastrophic claim can change the outcome, but based on information we know in October, the dividend outlook is promising.

Over the last eight years, MTM has returned $31 million dollars to our member owners. That has equated an average of 19.7 – 30% of the paid premium being returned to MTM members. Those outstanding results are due to risk management by you, our members, rigorous loss control by our MTM Loss Control team, and diligent/frugal management of claims dollars by MTM claims staff. To give a little plug for our claims team, the five women that many of you have come to know, have a collective 125-year history WITH MTM. The MTM claims representatives know our members more than any regular commercial insurance company could ever know. Nothing much gets by them.

So, mark 11 am, Thursday, March 16,2023 on your calendar, and we will see you in person then. In the meantime, have a safe Fall.