Austin, TX – Texas Mutual Insurance Company recently announced a grant of $5 million for policyholders affected by Tropical Storm Imelda, intended to support the recovery of business operations throughout the Gulf Coast region. The grant program was unanimously approved by the company’s Board of Directors. Grant applications will open October 7 for Texas Mutual policyholders in the 13 counties identified in disaster proclamations issued by Texas Gov. Greg Abbott.
“Many of our policyholders were affected by Tropical Storm Imelda, and we hope this funding will help these businesses and their employees return to work safely and quickly,” Rich Gergasko, president and chief executive officer of Texas Mutual, said. “As we saw with Hurricane Harvey relief efforts, providing important resources and aid to companies, particularly small businesses, allows them to recover and resume business as soon as possible. This program is reflective of our commitment to building a stronger, safer Texas.”
“Texas Mutual’s Board of Directors is proud to approve this funding to help restore the livelihood of the many Texas Mutual policyholders located along the Texas Gulf Coast. Supporting small businesses, the economic engine of our economy, and their valuable workforce is the most important thing Texas Mutual can do to help the region recover,” Ron Simmons, chairman of Texas Mutual’s Board, added.
Policyholders applying for this grant must have sustained significant business damage as a result of the natural disaster and will need to identify how the funds will be used. Funds may be used for payroll, building rehab or repair, machinery and equipment repair or purchase, replacement of lost inventory and other expenses associated with rebuilding. Texas Mutual is committed to quickly getting the funds in the hands of the business owners that drive the Texas economy so they can support their employees and get their businesses on the road to recovery.
The application must also be co-signed by the policyholder’s insurance agent of record on file with Texas Mutual. The maximum value of each awarded grant will be $10,000. Grants will be awarded on a first-come, first-served basis for qualifying policyholders.
Policyholders can apply for the grant by visiting texasmutual.com/imeldarelief beginning October 7.
Source: Texas Mutual