Austin-based workers’ compensation carrier, Texas Mutual Insurance Co., is offering a grant of $5 million for policyholders affected by Tropical Storm Imelda. The grant is 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 Oct. 7 for Texas Mutual policyholders in the 13 counties identified in disaster proclamations issued by Texas Gov. Greg Abbott.
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 said it 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 Oct. 7.
Source: Texas Mutual
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