The Market
Texas Injury Benefit Market Fast Facts
- Most important company asset = Workers
- Workers Covered: 1.3M workers covered by TX injury benefit programs
- More than 22 state workers’ comp systems cover fewer workers than TX injury benefit programs
- 95% of TX workers covered by workers’ comp or injury benefit programs (comparable to other states)
- Employer negligence liability exposure supports:
- Job training and safety
- Employee advocacy
- Voluntary payment of injury benefits
- Focus on better medical outcomes and return to work
- Substantial Claim Volume: 50K injury claims successfully resolved annually with “full & fair review” under well-established employee benefit laws
- Over one million Texas injury claims successfully resolved
- Provided injured workers with outstanding medical outcomes and continued paychecks
- Large Settlements & Judgments: Over 100 injury program settlements & judgments of $1M or more (highest $22M)
- Significant Insurance Market: 12+ leading national insurers and claim payers supporting Texas injury benefit programs
- More than $1 billion in direct written premiums over the past decade.
- Economic Development: Texas Governors and agency heads say this competitive market has contributed to Texas adding almost 2M private-sector jobs in the last decade
- Returned workers to their families and jobs fast
- Generated billions of dollars in cost savings and economic development for Texas
- Approximately 1,000 Texas employees currently work in the private sector on nonsubscriber injury program development, administration and insurance
- Helped make Texas the best place to do business and raise a family
- Minimal state regulatory expense
- Studies and reports at https://arawc.org/fast_facts/
