Texas Mutual Will Donate $10 Million to Policyholders Affected by Hurricane Harvey

News provided by

Sep 12, 2017, 16:26 ET

AUSTIN, Texas, Sept. 12, 2017 /PRNewswire/ -- Texas Mutual Insurance Company, the state's leading provider of workers' compensation insurance, today announced a grant of $10 million to policyholders affected by Hurricane Harvey. The grant program was unanimously approved by the company's Board of Directors. The grant is intended to support the recovery of business operations throughout the Gulf Coast region. Grant applications will open at noon on Wednesday, September 13, for Texas Mutual policyholders in the 58 counties identified in disaster proclamations issued by Texas Gov. Greg Abbott.

"Many of our policyholders were affected by Hurricane Harvey, and we hope this funding will help these businesses and their employees return to work safely and quickly," Rich Gergasko, president and chief executive officer of Texas Mutual, said. "In addition to providing aid for individuals, we think it is important that companies, particularly small businesses, have the resources to recover and resume business as soon as possible. This program is reflective of our commitment to building a safer, stronger Texas."

"Texas Mutual's board of directors is proud to provide this program to help restore the economy along the Texas Gulf Coast. Supporting small businesses, the economic engine of our economy, and their valuable workforce is the most important thing Texas Mutual can do to help the region recover," Bob Barnes, chairman of Texas Mutual's board, added.

Policyholders applying for this grant must have sustained significant business damage as a result of the natural disaster and will need to identify how the funds will be used. Funds may be used for payroll, building rehab or repair, machinery and equipment repair or purchase, replacement of lost inventory and other expenses associated with rebuilding. Texas Mutual is committed to quickly getting the funds in the hands of the business owners that drive the Texas economy so they can support their employees and get their businesses on the road to recovery.

The application must also be co-signed by the policyholder's insurance agent of record on file with Texas Mutual. The maximum value of each awarded grant will be $10,000. Grant applications will be available online at noon on Wednesday, September 13, and grants will be awarded on a first-come, first-served basis for qualifying policyholders. Policyholders can apply for the grant by visiting texasmutual.com/txmfortexas.

About Texas Mutual Insurance Company
Austin-based Texas Mutual Insurance Company, a policyholder-owned company, is the state's leading provider of workers' compensation insurance. Texas Mutual provides coverage to 40 percent of the market, representing 68,000 companies, many of which are small businesses. Since 1991, the company has provided a stable, competitively priced source of workers' comp insurance for Texas employers. Helping employers prevent workplace accidents is an important part of Texas Mutual's mission.

Media Contact:
Levente McCrary or Christina Ibarra
Elizabeth Christian Public Relations
Office: (512) 472-9599

SOURCE Texas Mutual Insurance Company