Workers Compensation Insurance Texas

Workers Compensation Insurance Texas is a type of safety kit provided to every worker so that they can work without any medical burden. Every state has different workers comp. policies but Texas is different from most of the other states because it doesn’t generally mandate workers compensation insurance. It’s often in the employer’s best interest so that they can provide better coverage.

If any employee is injured on the job then the employer is liable to pay all the expenses including medical treatment, ongoing therapy, and lost wages. The business owners who don’t purchase the workers’ compensation policy are known as Nonsubscribers.

Certain requirements for Workers’ Compensation in Texas:

There are few industries that are liable to purchase workers’ compensation insurance in Texas and provide it to the employees. Below we mentioned the basic requirements included for coverage:

Public Employer (Cites, Countries, or state agencies)
Government companies or companies who signed government entities.
State Universities
Public employers hired for building or any construction work.
Motorbus Companies
Providing transportation over highways.
Liquid propane gas and compressed natural gas dealers
Employers of inmates in work furlough programs

Determine the Cost of Workers’ Compensation in Texas:

The average cost of workers’ compensation insurance in Texas is $31 per month. To secure workers’ compensation coverage, the employers may either buy commercial insurance or become certified as self-insured. In Texas, it provides some income benefits provided by the employer to employees. The four situations are mentioned below:

Temporary income: 70% of the insured’s average weekly wage
Impairment income: 70% of the insured’s average weekly wage
Supplemental income: 80% of the insured’s average weekly wage
Lifetime income: 75% of the insured’s average weekly wage

Best Companies for Workers Compensation Insurance in Texas –

Here we’re going to tell you about the workers’ compensation insurance companies that provide compensation plans to Texas Employers:

Company Name	Lost wages	Permanent injury	Medical expenses	Emergency treatment	Death Benefits
CNA (Continental National American Group)	✔️	✔️	✔️	❌	❌
Pie Insurance Company	✔️	✔️	✔️	❌	✔️
Markel Insurance Company	✔️	✔️	✔️	✔️(Rehabilitation Services)	✔️
The Hartford Insurance Company	✔️	✔️	✔️	❌	✔️

CNA (Continental National American Group):

Company Name	CNA (Continental National American Group)
Established	1897
Address	700 N Pearl St Ste 300, Dallas, TX 75201
Website	www.cna.com
Annual Revenue	$11.879B annually
Contact No.	(800) 262-1113

CNA stands for Continental National American Group which is the 7th largest U.S. commercial property and casualty insurance company. The company is established in 1897 that has approximately 7,500 employees, serving businesses and professionals in the U.S., Canada, Europe, and Asia. CNA was initially called the Continental Assurance Company and later changed to the Continental Casualty Company Inc. after a merger. Now, its name is Continental National American Group.

Pie Insurance Company:

Company Name	Pie Insurance Company
Established	2017
Address	1755 Blake St 5th floor, Denver, TX 80202
Website	pieinsurance.com
Annual Revenue	$100.0M annually
Contact No.	855-705-2716

Pie Insurance is founded and established by CEO John Swigart who is responsible for checking all the aspects of the company. Workers Compensation Insurance is also known as workman’s comp insurance which is an state-mandated program that provides medical, disability, survivor, burial, and rehabilitation benefits to employees who are injured or killed.

Markel Insurance Company:

Company Name	Markel Insurance Company
Established	2017
Address	9500 Arboretum Blvd suite 400, Austin, TX 78759
Website	www.markel.com
Annual Revenue	$11.675B annually
Contact No.	+1.888. 500.3344

Markel Insurance Company is a global specialty insurance provider with a truly people-first approach. It is a leader that provides insurance policies and solutions to small business owners, Powersports, events, and much more. Markel Insurance Company is a holding company for insurance, reinsurance, and investment operations around the world.

The Hartford Insurance Company:

Company Name	The Hartford Insurance Company
Established	1810
Address	Frisco, TX
Website	www.thehartford.com
Annual Revenue	(860) 547-5000
Contact No.	+1.888. 500.3344

Hartford financial services is a United state-based investment and insurance company that is ranked as the 13th largest property and casualty insurance company in the United States. The company’s expert agents, streamlined process, and wide variety of insurance products provide the best protection to small businesses and to their workers.

How do Claims of Workers’ Compensation Insurance work?

Employers have many options to get workers’ compensation that includes common claims like self-insurance, participation in the state fund, and private insurance. Employers can opt out of workers’ compensation insurance so it’s smart to obtain some coverage to limit liability.

Slips, trips, and falls
Construction site accidents, such as being struck by falling objects or hit by collapsed structures
Transportation accidents
Physical overexertion

Conclusion:

In this article, we have discussed the policies of workers’ compensation insurance in Texas. It provides benefits to employees or workers who get injured or sick at the workplace. You can easily apply for getting the workers’ compensation policy. In this article, we also tell you the best companies that provide Workers’ Compensation in Texas.