Overview
What is Texas Mutual Insurance Company?
Texas Mutual Insurance Company is a leading workers' compensation insurer based in Austin, Texas. With a workforce of around 1,100 employees, they provided coverage for over 81,000 policies, protecting 1.5 million Texas employees in 2022. Throughout the year, they processed over 47,000 claims and disbursed approximately $392 million in medical and income benefits to injured workers. Amidst their considerable financial output, they distributed $330 million in dividends to about 67,000 policyholders and an extra $21 million to 27 safety groups. Founded by Texas statute, their mission extends beyond underwriting insurance. They act as an insurer of last resort and prioritize preventing work-related injuries and illnesses, aiming to minimize their consequences for the Texas workforce.
Official website here: www.texasmutual.com
Is Texas Mutual Insurance Company legitimate?
Texas Mutual Insurance Company is a legitimate nonprofit organization registered as a 501(c)(27) entity. Texas Mutual Insurance Company submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are not tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $20,936,061
Professional Fundraising Fees: $0
Other Salaries and Wages: $95,058,772
For more financial information, click here
Official website here: www.texasmutual.com
What is the mission statement of Texas Mutual Insurance Company?
Texas Mutual Insurance Company was established by Texas statute with a mission to offer a stable and competitive workers' compensation insurance option for Texas employers. The organization functions as an insurer of last resort, assisting in preventing work-related injuries and illnesses, and minimizing their consequences. In 2022, the company wrote over 81,000 workers' compensation policies, covering more than 1.5 million employees. Throughout the year, over 47,000 claims were processed, resulting in approximately $392 million in medical and income benefits paid out to injured workers. The company distributed $330 million in dividends among approximately 67,000 policyholders, and an additional $21 million in dividends were given to 27 safety groups.
Official website here: www.texasmutual.com
Who is the CEO of Texas Mutual Insurance Company?
Bill Potter is the President & Ceo of Texas Mutual Insurance Company. The CEO's salary of Texas Mutual Insurance Company is $1,842,750 and their total compensation is $1,888,090.
Official website here: www.texasmutual.com
What is the revenue of Texas Mutual Insurance Company?
Texas Mutual Insurance Company's revenue in 2022 was $1,300,355,257.
Official website here: www.texasmutual.com
Who are the executives of Texas Mutual Insurance Company and what are their salaries?
The average compensation at Texas Mutual Insurance Company during 2022 was $105,450. There are 1,100 employees at Texas Mutual Insurance Company.
Here are 49 key members and their salaries (Texas Mutual Insurance Company's CEO's salary is $1,842,750 and their total compensation is $1,888,090):
- Richard Gergasko (President & Ceo)
- Brenda Ward (Chief Operating Officer)
- Leonard Johnson (Svp Investments)
- Jo Betsy Norton (Svp Public Affairs)
- Willard Potter (Svp & Cfo)
- Michael Hernandez (Chief Data Officer)
- Paul Schlaud (Svp Enterprise Affairs & General Counsel)
- Kim Haugaard (Svp Policyholder Services)
- Jeffrey Lentz (Svp Underwriting)
- Lawrence Martin (Svp Human Resources)
- Jeannette Sprague (Svp & Chief Information Officer)
- Elise Teeter (Svp & General Auditor)
- David John (Vp It Infrastructure)
- Mary Nichols (Svp & General Counsel)
- Phoebe Murphy (Vp & Chief Actuary)
- Michael Stubblefield (Svp & Chief Information Officer)
- Nathan Scott (Vp Investments)
- Erica Sanchez (Vp & Controller)
- Edward Coates (Vp Hr Employee Services)
- Shannon Pounds (Vp & Associate General Counsel)
- Lisa Evans (Vp Distribution & Customer Engagement)
- Amy Green-Hinojosa (Vp Project Management Office)
- Billy Jackson (Vp Regional Operations)
- Peppia Sherrouse (Vp Regional Operations)
- Jeremiah Bentley (Vp Marketing & Community Affairs)
- Beverly Harris (Vp Corporate Strategy & Product)
- Adrian Vanzulli (Vp Applications)
- Roger Humecky (Vp Data Analytics & Business Intelligence)
- Richard Dabney (Vp Corporate Underwriting)
- Benjamin Siddons (Vp Business Development)
- Eric Bourquin (Vp Safety Services)
- Anthony Seraphim (Vp Data Governance)
- Greta Gonzales (Vp & Chief Risk Officer)
- Curtis Johnson (Vp Claim Operations)
- Nicholas Tsourmas (Medical Director)
- Rhonda Barker (Vp Premium Audit)
- Toni Toliver (Vp Business Law)
- Jackie Kenyon (Vp Special Litigation)
- James Ziolkowski (Vp Regional Operations)
- Ronald Ellis Simmons (Director)
- John Dayton Swanson (Director)
- Tommy Dan Phillips (Director)
- Kristina Rose Koncaba (Director)
- Brett Baker Flagg (Director)
- Alexia Selene Elliott (Director)
- Steven Dudley Oldham (Director)
- William Francis Quinn (Director)
- Linda Stuckey Foster-Smith (Director)
- Kevin Mart Robnett (Director)
Official website here: www.texasmutual.com
Where can I find the form 990 for Texas Mutual Insurance Company?
The Texas Mutual Insurance Company’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.texasmutual.com
Learn more at the official website: www.texasmutual.com
Mission Statement of Texas Mutual Insurance Company
Texas Mutual Insurance Company, a Texas-established insurer, is on a mission to ensure a stable and competitive workers' compensation insurance market for the state's employers. Acting as an insurer of last resort, the company provides coverage to prevent on-the-job injuries and illnesses, and minimizes their consequences.
In the past year, Texas Mutual Insurance Company wrote over 81,000 workers' compensation policies, covering more than 1.5 million employees in Texas. During this period, the company processed over 47,000 claims and paid out approximately $392 million in medical and income benefits to injured workers. The company's commitment to its policyholders extended beyond claims processing, as it distributed over $330 million in dividends to around 67,000 policyholders. An additional $21 million in dividends was granted to 27 safety groups.
The mission of Texas Mutual Insurance Company goes beyond insurance coverage and claims processing. It is dedicated to helping prevent on-the-job injuries and illnesses and minimizing their consequences. By providing a stable and competitive market for workers' compensation insurance, the company aims to create a safer working environment for employees across Texas.
Impact
This information is meant to be a general summary of Texas Mutual Insurance Company. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Texas Mutual Insurance Company plays a crucial role in providing a stable, competitive source of workers' compensation insurance for Texas employers. It serves as an insurer of last resort, ensuring that businesses have access to essential coverage. By helping to prevent on-the-job injuries and illnesses and minimizing their consequences, Texas Mutual Insurance Company contributes to a safer work environment for over 1.5 million Texas employees covered by its policies.
In 2022, the Company processed over 47,000 claims, providing approximately $392 million in medical and income benefits to injured workers. Additionally, Texas Mutual distributed $330 million in dividends to around 67,000 policyholders, as well as $21 million in dividends to 27 safety groups. This financial support not only benefits policyholders but also helps to promote a culture of workplace safety and security across the state.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Premiums Earned
Revenue
$1,076,017,857
Organization Details
Founding Year
1991
Phone
(800) 859-5995
Principal Officer
Bill Potter
Main Address
2200 Aldrich Street, Austin, TX, 78723
Website
www.texasmutual.com
NTEE Category
Code: Y20 - Mutual benefit
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