Texas Mutual Insurance Company announced its newest workers’ compensation purchasing group: Texas Machinery and Equipment Dealers (TM&E).
State law allows employers in similar industries to reduce their workers’ comp premiums by purchasing their coverage as a group. TM&E is a state-approved purchasing group for machinery and equipment dealers, including, but not limited to: farm and industrial machinery, packaging machinery, construction machinery and lift truck dealers, as well as others in class code 8107. Texas Mutual Insurance Company underwrites the group, and The Roy Agency Inc. administers it.
TM&E group members keep their own experience modifier, and they get a premium discount based on the group’s premium volume. They can also adopt an industry-specific safety plan and earn potential dividends from Texas Mutual Insurance Company. Eligible employers get an additional discount by participating in Texas Mutual Insurance Company’s workers’ comp health care network option.
Any licensed, Texas agent can submit qualifying clients for TM&E group membership. For more information about TM&E and other purchasing groups, visit the Agents section at www.texasmutual.com. Texas Mutual Insurance Company notes that past dividends are not a guarantee of future dividends, and the Texas Department of Insurance must approve all dividends.
Source: Texas Mutual