Letter from the Chairman
My vision as first-year chair
Chairman Richard A. Cooper (left)
and President Russell R. Oliver
Imagine if the greatest innovators in history had no long-term vision. You might still be driving a Model T and communicating by telegram. My point is that where a company is going is just as important as where it’s been.
This report documents another outstanding year for Texas Mutual Insurance Company. We wrote a company-record $760.5 million in premium and provided coverage for more than 47,500 employers and their 873,000-plus workers. We also helped employers control and lower their workers’ compensation costs in two important ways.
First, we expanded our workers’ compensation health care network. The network provided injured workers with access to medical professionals who focused on helping them get well and back on the job. Further, our network premium discount helped participating policyholders save more than $70 million in 2007.
Second, we returned a company record of more than $138 million in dividends to qualifying policyholders. These dividends helped employers improve their safety programs and grow their businesses in our dynamic Texas economy.
As an 11-year member of the board of directors, I can assure you that this company will not rest on the strength of this year’s accomplishments.
We will continue working hard to control premiums, prevent accidents and help injured workers get back to productive employment. We will improve the network in its critical role of addressing medical costs, which have historically been too high in our state. By making workers’ compensation more affordable, we will make Texas an even more attractive place to do business.
I welcome Bob Barnes from Granbury to the board of directors. I also thank former chairman Marty Young Jr. for 12 years of outstanding service and leadership. His vision and passion helped Texas Mutual Insurance Company become the state’s leading choice for workers’ compensation.
The company has the board’s unconditional support as it continues down the road that Mr. Young helped pave.
Richard A. Cooper
Chairman of the Board
Letter from the President
Solutions set us apart
This is a good time to be an employer in the Texas workers’ compensation system. Competition is up, and employers have many choices for where to place their hard-earned business. When they choose an insurance carrier, they want to know quickly, in no uncertain terms, what they are getting for their money.
With Texas Mutual Insurance Company, employers get solutions for lowering their premium, preventing workplace accidents and controlling their claim costs.
In this report, you will meet some of the policyholders who have benefited from our workers’ compensation solutions. With guidance from their agents, these employers were among the more than 47,500 policyholders who placed their trust in Texas Mutual Insurance Company this year.
To us, these are the services that any responsible carrier delivers to its customers. To our policyholders, these services set us apart from our competition and make us the hands-down leading choice for workers’ compensation insurance.
Texas Mutual Insurance Company has made a long-term commitment to our state’s agents, employers, injured workers and health care providers. Our financial stability means that we can fulfill our commitment for years to come. We’re here for Texas, and we’re here to stay.
Russell R. Oliver