April 24, 2024

TDI approves average loss cost decrease and releases latest market report

We’re sharing two updates from the Texas Department of Insurance (TDI), including workers’ compensation rate reductions for the majority of classes and the most recent insurance company market conditions report. Keep reading to learn more.

Texas workers’ comp loss cost change

TDI has approved an overall loss cost decrease of 11% for the voluntary market in Texas, effective July 1, 2024. This means many new and renewal policies with Texas Mutual could see rate decreases. As an agent, you can see these lower rates in our system by submitting your quote online. If you have a non-subscriber or business that has not recently considered workers’ comp coverage with Texas Mutual, we encourage you to apply for a competitive quote from us.

Market conditions report

TDI recently released its 2023 report on market conditions in Texas. We’re proud to announce that Texas Mutual remains a stable source of workers’ compensation and top provider with 41.4% of the market. We’re able to fulfil our mission and lead the market in delivering a competitive product thanks to our hard-working agent partners, like you.

As your workers’ compensation partner, we’re committed to keeping you up to date on the latest industry, regulatory and safety news to help you serve your clients and support your agency’s success. If you have any questions about these topics, please reach out to your Texas Mutual territory manager or underwriter.