Schaumburg, Ill., – Zurich, a provider of property and casualty insurance in North America and globally, today announced its North America Commercial’s Accident & Health unit is now providing an alternative to Texas workers’ compensation coverage for employers who opt out of the system.
Texas is the only state in the country that does not require employers to participate in its workers’ compensation program. Employers who opt out of the system are classified as “non-subscribers” or “NS.”
“Zurich understands NS employers are seeking to reduce expenses and gain flexibility and control in managing work injuries,” said Ron Grahf, head of Specialty Products’ Accident team for Zurich North America Commercial. “But what appears to provide a potential cost-saving could be negated later by employee injury claims.”
Zurich is a leading writer of workers compensation and a market leader in occupational accident coverage. “We have combined our knowledge in these areas to develop a solid solution for the non-subscriber,” said Grahf.
Zurich designed these products that respond to the needs of today’s non-subscribers, by developing an occupational accident policy called Texas Occupational Accident that provides:
- Temporary total disability benefits
- Medical expense benefits
- Accidental death and dismemberment benefits due to work-related accidents
A separate policy, Texas Employers Indemnity, provides:
- Temporary total disability benefits
- Medical expense benefits
- Accidental death and dismemberment benefits due to work-related accidents
- Liability coverage that protects the employer against injured worker lawsuits
Grahf said both policies offer generous limits of coverage of up to $5 million per person, $10 million per occurrence and a $25 million policy aggregate.
Source: Zurich NA