We are the state’s leading provider of workers’ compensation insurance, and we offer exceptional services at competitive prices.
We’ve been serving Texas since 1991. That’s when the Texas Legislature first chartered the Texas Workers’ Compensation Insurance Fund and gave us the task of stabilizing the workers’ comp system. In 2001, the Legislature redesigned our charter and changed our name to Texas Mutual Insurance Company.
To ensure we “stay the course” for financial stability, we contract with independent auditors to review our progress each year, and we are a member of the Texas Property and Casualty Insurance Guaranty Association.
In the late 1980s and early 1990s, workers’ compensation rates were skyrocketing, and few insurance companies were willing to provide coverage for Texas employers. In 1991, the Texas Legislature created Texas Mutual Insurance Company (then called the Texas Workers’ Compensation Insurance Fund) to ensure the availability and affordability of workers’ compensation coverage. In 1992, the Fund began underwriting workers’ compensation insurance, and in 1994, it became the state’s insurer of last resort for businesses that were unable to find coverage elsewhere.
On June 15, 2001, Governor Rick Perry signed House Bill 3458 into law, changing the company’s name to Texas Mutual Insurance Company and authorizing the company to operate as a domestic mutual insurance company (with continued political oversight by the state). The bill also included a pledge from the Legislature that ensured the company’s ability to maintain an adequate surplus to meet all foreseeable market conditions. The bill maintained statutory mandates that the company remain a competitive force in the marketplace, guarantee the availability of workers’ compensation insurance in Texas, and act as insurer of last resort.
The company is governed by a nine-member board of directors. Four board members are elected by the policyholders, and the remaining five board members, including the chair, are appointed by the governor and confirmed by the Senate. The board is responsible for setting rates and directing the company’s business. The company’s executive council manages its internal operations.