The Montana State Fund announced a $20 million dividend and a 10% rate cut, according to a report by the Billings Gazette.
The newspaper reports that the carrier announced it will return an average of $900 to more than 20,000 policyholders, with individual payments ranging from $18 to $325,000.
At the same time, Montana State Fund announced a 10% average rate reduction for policyholders.
Dividend checks will be mailed later this month and the rate cut takes effect July 1, the carrier said in a statement.
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