The Texas Department of Insurance, Division of Workers Compensation (TDI-DWC) recently approved 10 renewals of the Certificates of Authority for companies to self-insure their workers comp claims for a one-year period under the TDI-DWC Self-Insurance Program. These companies collectively employ approximately 30,579 employees in Texas.
Under Texas law, certain large, private companies can self-insure for workers comp claims, while retaining the protection of the Texas Workers Compensation Act for the company and for its employees.
Unmodified Manual Premium of $500K to Qualify
To qualify, a company must have a minimum workers comp insurance unmodified manual premium of $500,000 and meet other requirements subject to annual review.
The following companies received self-insurance certificates:
• Poly-America, L.P., Grand Prairie
• Archer-Daniels-Midland Company, Decatur, IL
• FedEx Ground Package System, Inc., Moon Township, PA
• Hyatt Corporation, Chicago, IL
• Lockheed Martin Corporation, Fort Worth
• Parker-Hannifin Corporation, Cleveland, OH
• Union Tank Car Company, Chicago, IL
• AAA Cooper Transportation, Dothan, AL
• VF Corporation, Greensboro, NC
• American Electric Power Company, Inc., Columbus, OH.
Since workers comp coverage is not mandatory in Texas, some companies that are non-subscribers use the term “self-insured” to describe their workers comp coverage status under the TLC.
Unless a private company holds a Certificate of Authority as a CSI, a company is considered a non-subscriber according to the TLC.
Author Kori Shafer-Stack, Editor, Amaxx Risk Solutions, Inc. is an expert in post-injury response procedures and part of the Amaxx team helping companies reduce their workers compensation costs by 20% to 50%. www.reduceyourworkerscomp.com. Contact: kstack@reduceyourworkerscomp.com.
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