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Hotchkiss Insurance Agency (HIA) has been working with TAB members for over 15 years. In 2005, HIA developed a workers’ compensation program specifically for members of the Texas home building industry known as the Texas Home Builders (THB) Workers’ Compensation Group. The group is non-assessable so premium savings are immediate and any dividends the policyholders receive are theirs to keep.
How the THB Workers’ Compensation Purchasing Group Was Formed.
The Texas Department of Insurance (TDI) allows employers in similar businesses to form purchasing groups to help reduce their workers’ compensation insurance premiums. In short, by joining THB, your company will retain its own experience modifier, and will receive a premium discount based on the group’s total premium. Your company may also qualify for a Texas Mutual general dividend or group dividend.*
• Immediate premium discount of 10.5% to every policyholder
• 12% health network credit immediately
• Two annual dividend checks* – one for all Texas Mutual policyholders, one for THB members only
• Safety Manual – written exclusively for THB policyholders – workers’ safety programs, guidelines, how to implement, plus loss control engineering provided by Texas Mutual at no cost to policyholders.
| Real Life Examples | |
|---|---|
Standard Premium outside of THB-WC group |
$4,000 |
| Standard premium with 12% network credit | $3,740 |
| Premium with THB discount and 12% network credit: | $3,363 |
| General Dividend from Texas Mutual* | $235 |
| THB Dividend* | $374 |
| Total cost of WC as member of THB-WC | $2,754 |
Savings of |
$986 |
| Standard Premium outside of THB-WC group | $20,000 |
| Standard premium with 12% network credit | $16,803 |
| Premium with THB discount and 12% network credit: | $16,067 |
| General Dividend from Texas Mutual* | $1,125 |
| THB Dividend* | $1,607 |
| Total cost of WC as member of THB-WC | $13,335 |
Savings of |
$2732 |
For more information call 866-959-2525.
