Most business owners in the Lone Star State who have done their homework know that the Texas Department of Insurance offers some mediation and protection. However, the simple fact that the TDI is a state-run organization means that they are operating with everyone’s interests in mind. Holding private workers compensation insurance in Texas is the only way to make sure that you have someone who is looking after your needs by protecting your business from potentially ruinous legal decisions.
When you carry workers compensation insurance in Texas, you gain several important benefits:
- Claims against you are rarely awarded automatically
- You gain better credibility when attempting to attract skilled labor
- You have immunity to some lawsuits
- The court may act as a final recourse after a TDI decision
There are other benefits, chief among them being the fact that the insurance company pays for your expenses should a claim go to court.
You might want to consider holding workers compensation insurance in Texas even if you don’t think of your industry as being particularly fraught with danger. The fact is that accidents happen everywhere, regardless of the type of work that is being performed. Contacting an insurance company might also help you understand your legal obligations to your employees and reduce the risk you are liable for any claims made.