Texas Mutual Creates $10M Fund for Policyholders Affected by Hurricane Harvey

Workers’ compensation insurance provider Texas Mutual Insurance Co. has established a grant of $10 million to policyholders affected by Hurricane Harvey. The grant program is intended to support the recovery of business operations throughout the Gulf Coast region.

Grant applications are available beginning at noon on Sept. 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 the company’s announcement. “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.”

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 said it 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 will be awarded on a first-come, first-served basis for qualifying policyholders. Policyholders can apply for the grant by visiting texasmutual.com/txmfortexas.

Source: Texas Mutual Insurance Co.