Texas Mutual Opens Interim Reporting to More Businesses

We are now offering interim reporting policies to all classes of business with premiums over $25,000, provided the policyholder agrees to report its interim payroll and make premium payments online at texasmutual.com using the automatic check debit option.

With interim reporting, policyholders choose to pay a premium deposit and send monthly or quarterly payroll reports, along with payments, for each reporting period. We have traditionally reserved this option for seasonal risks, construction-related risks, and other “problematic” operations with fluctuating payroll. Making interim reporting available to more types of businesses gives you another tool to help your Texas Mutual^® clients.

“This is another step in our efforts to constantly improve our service,” said Ernest Stokey, Texas Mutual^® vice president of premium audit. “We never want to put a policyholder in a position where they owe a large additional premium at final audit. Interim reporting helps us reduce that possibility as it allows both the policyholder and their agent to track and monitor their premium and payroll exposures during the life of the policy. The policyholder pays and makes adjustments as necessary.”

If any of your clients have interim reporting policies, remember:

• Interim reports and premium payments are due at the agreed upon, scheduled dates.
• We do not accept partial payments online.
• If you are a registered user at texasmutual.com, you can view and print your clients’ online interim reporting and interim payment history through our online interim reporting tool. You can also view information submitted by and sent to your clients. Just click on "Interim reporting."
• To reduce our customers’ administrative burden, we will not send paper copies of reports and postings to agencies and policyholders that use online interim reporting.

Click here for more information about interim reporting, or call us at (800) 859-5995.