Texas Mutual Insurance Co. policyholders elected four new board members at the workers compensation insurer’s first policyholder meeting. Over 5,000 policyholders voted either in person or by proxy to elect Judy Broussard, Jose Cuevas Jr., James D. Ross, and Charles H. Whiteside to the board.
The four elected directors will serve terms as specified for each seat. Texas Mutual will hold periodic elections to fill the seats as the terms expire.
Previously, the governor appointed all board members to the state-chartered company. Last year, the Legislature revised the company’s charter by passing House Bill 3458, which empowered the company’s policyholders to elect four directors of the nine-member board. The governor, with the advice and consent of the Texas Senate, appoints the other five directors, including the chair.
In the late 1980s and early 1990s, coverage was hard to find or unaffordable for many Texas employers. In 1991, the Legislature created Texas Mutual Insurance Co. (then called the Texas Workers’ Compensation Insurance Fund) to be a competitive force in the market and to provide “a safety net” for the Texas workers’ compensation market, according to president Russell Oliver.
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