Texas Workers’ Compensation System Reports $12M Loss in 2024, Report Finds

The Texas workers’ compensation system saw a modest $12 million loss in 2024 as insurers reported an increase in direct losses paid and overall, according to a report compiled by the Insurance Council Texas (ICT).

The 2025 Texas Workers’ Compensation Market Report found that employer participation in the workers’ comp reached its highest since 2016, with 87% of employees covered. Ninety-eight insurers represented 335 companies reporting voluntary direct premiums written in 2024 – a 10% increase in companies compared to 2023, the report found.

Direct written premium fell 4% in 2024 to $2.6 billion (voluntary market), making Texas’ workers’ comp system the fifth largest in the U.S. behind California, New York, Florida and New Jersey.

Texas Mutual accounted for approximately $1 billion of premiums written for a 39.4% market share. Zurich was next highest with $148 million, followed by Travelers with $140 million and Hartford Fire & Casualty with $134 million.

Direct losses in 2024 rose 8.7%, from $1.03 billion to $1.12 billion, following a 14.3% increase from 2022 to 2023.

There were 1,536 fraud reports received in 2024, up from 1,451 in 2023. Fifty-three cases were opened for investigation, with four cases referred for prosecution and three convictions.

The full report can be found here.