InsuredBetter's Texas Mutual Score
3.5 Stars
Texas Mutual, formerly the Texas Workers’ Compensation Insurance Fund, was founded in 1991. It serves as the “carrier of last resort” for employers in Texas who are not able to find coverage through another carrier.
Thanks to its recent record and financial strength, Texas Mutual has earned a reputation as a stable insurance company with a stable outlook for the future. AM Best, the leading global credit rating agency monitoring the insurance industry, gives Texas Mutual an “A+” (Superior) rating (an upgrade from its previous rating), indicating the carrier is an excellent choice for insurance customers. High ratings from AM Best assure customers that Texas Mutual can offer guaranteed, secure coverage from a financially sound carrier.
We award Texas Mutual a final rating of 3.3 out of 5 stars. The insurance company has been around for more than 25 years and has very high financial strength ratings. Coverage is offered only in Texas, and its catalog is extremely limited, but the singular focus allows it to excel at what it does.
The insurance company provides 24/7 claims reporting via phone, online, or mobile app, as well as online bill pay and account management, yet does not list its business hours for the customer service department anywhere. The website is clear, concise, easy to navigate, and offers a lot of valuable information and resources for both employers and their employees.
It is challenging to find any online customer feedback about Texas Mutual, but the few reviews available are mixed. We can find many positive things about this carrier. We recommend considering Texas Mutual if you are in the market for workers' compensation coverage in Texas. An independent insurance agent can help you further assess whether the carrier fits your needs.
Texas Mutual Pros and Cons
If Texas Mutual is on your list of potential workers' compensation carriers, consider the following pros and cons:
| Pros: | Cons: |
|---|---|
More than 25 years of experience
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Difficult to find customer feedback
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Highly rated by AM Best
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Limited coverage options
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Strong financial stability
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Limited coverage area (Texas only)
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Injured employees can manage claims through an online account
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Business hours not listed on website or social media
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Expertise in workers’ compensation insurance
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Texas Mutual Products
Texas Mutual is a specialized insurance company with a focus on coverage for injured workers. Their only insurance product offered is as follows.
- Workers' compensation insurance
Your independent insurance agent can help you find more information about the coverage offered by Texas Mutual and help you decide if this insurance company is right for you.
What Discounts Does Texas Mutual Offer?
While Texas Mutual does not make information about their specific discounts readily available, they do have a few on their website, as listed below.
- Industry-specific safety group discount: Clients can receive a discount of up to 12% for joining a safety group. The Texas Department of Insurance allows employers in similar businesses to form safety groups, giving them group purchasing power to earn a discount on their workers' compensation insurance premiums.
- Healthcare network discount: Clients that participate in Texas Mutual’s health care network can save an additional 12% on their workers’ compensation premiums.
- Dividend program: When buying workers’ compensation from Texas Mutual, you are buying protection for your business and employees. In addition, you also become an owner of Texas Mutual. Their policyholder-owners can receive dividends, same as stockholders of publicly traded companies do. 75% of policyholders earn an annual dividend.
An independent insurance agent can provide better discount information and quotes for workers' compensation insurance from Texas Mutual.
Texas Mutual Customer Service
Texas Mutual offers 24/7 phone, online, or mobile app claims reporting for its policyholders. The carrier also provides the following customer service options:
- Online bill pay
- Online account management
- Employer claim management
- Email contact option
- Texas Mutual’s website does not display its business hours
The best way to make sure to have a smooth customer service experience is to work with an independent insurance agent.
Texas Mutual FAQs
What is Texas Mutual's average claim response time frame?
Texas Mutual offers a couple of methods for reporting claims. However, the insurance company does not provide an official claims response time frame promise. Texas Mutual does encourage customers to file claims immediately after an incident.
What is Texas Mutual's customer service availability?
Texas Mutual allows customers to file claims over the phone, online, or via its mobile app 24/7. The company does not specify business hours for its customer service hotline. The carrier’s social media presence extends across Facebook, X, YouTube, Instagram, and LinkedIn, which makes it more accessible to customers.
What is Texas Mutual's claims process?
Texas Mutual details its claims process on its public website. When you report an injury, Texas Mutual steps in to assist you and your injured worker throughout the process. The company is invested in the welfare of your staff. Clients should set up a Texas Mutual Online account so they can manage their claims throughout every step.
- Report an injury
- When an injury occurs, the carrier is there to protect businesses and provide employees with the care they require. Report the injury as soon as possible so a specialized adjuster can gather additional details needed to determine eligibility and benefits.
- Get care
- In the event of an emergency, make sure your employee gets immediate care. Clients can find a medical provider using Texas Mutual’s online directory. Businesses that participate in the health care network; the employee is required to choose a network provider. A designated claim agent can help employees find a network provider and answer any questions about seeking treatment.
- Return to work and recovery
- Texas Mutual will work together with the employee's doctor to identify tasks that are safe for the employee while recovering. Texas Mutual works with businesses, their employees and the employee's doctor to come up with a plan that helps the employee return to a productive life as swiftly as possible.
- Ensure long-term success
- Texas Mutual will work together with the employee's doctor to identify tasks that are safe for the employee while recovering. Texas Mutual works with businesses, their employees, and the employee's doctor to come up with a plan that helps the employee return to a productive life as swiftly as possible.
If customers have questions about filing or the claims process itself, they can contact the carrier via phone or email, or get in touch with their independent insurance agent.
Does Texas Mutual's Insurance create a user-friendly experience for customers?
Texas Mutual’s public website is quite user-friendly. The carrier provides a lot of information about its claims process on its website. It also provides lot of information and resources for both employers and their employees. Online bill pay and account management is available, as is 24/7 claims reporting via phone, online, or the mobile app, which are nice, modern customer service features.
Sources
https://www.texasmutual.com
https://news.ambest.com/pr/PressContent.aspx?altsrc=2&refnum=35470#:~:text=AM%20Best%20has%20upgraded%20the,revised%20to%20stable%20from%20positive.
