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An Inside Look: Texas Mutual's Hurricane Harvey Grant

Hurricane Harvey makes landfall in Texas. A mandatory evacuation was not ordered and an estimated 17,000 people required rescue. More than 30,000 people were displaced and thousands of homes were flooded. Monday, August 28, 2017 Texas Mutual communicates ...

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Six months ago, Hurricane Harvey caused devastation to communities in Houston and along the Gulf CoastIt was personal for all of us at Texas Mutual, as nearly 100 of our employees work in our Houston office and many of our policyholders were directly affectedWe've seen the courageous stories of strength in such a devastating time and we know that many communities are still on the road to recovery. We felt a responsibility to help our policyholders affected by Harvey, and so we created a first-of-its-kind grant programWatch (here) how Texas Mutual created the $10 million Harvey grant program to quickly distribute funds to policyholders in need More than 1,100 businesses received a grant from Texas Mutual and we distributed a total of $10.6 millionBusinesses were awarded nearly $10,000 each on average and were able to use the funds for payroll, building repair, equipment repair or replacement, and moreRead one policyholder's story. Timing was one of the most important factors for the grant programKeep reading to see how it all came together. Friday, August 25, 2017Hurricane Harvey makes landfall in TexasA mandatory evacuation was not ordered and an estimated 17,000 people required rescueMore than 30,000 people were displaced and thousands of homes were flooded. Monday, August 28, 2017Texas Mutual communicates how it will continue to serve those affected by HarveyWe offered a grace period for premium payments for anyone affected by the hurricaneWe knew that injured workers still needed care, so they were exempt from seeing a network providerOur Dallas and Austin regional offices stepped up to support business functions from the Houston office. Saturday, September 2, 2017Hurricane Harvey dissipatesRescue efforts continue across the region and many homes and businesses are without powerResidents used social media to coordinate water rescues with personal boats and equipment. Thursday, September 7, 2017Texas Mutual President and CEO Richard Gergasko assembles the executive team to discuss how to help our policyholders affected by Harvey, and they collectively decide on a grant relief program, a first of its kind for the companyThe program was designed to quickly distribute much needed funds to businesses in needThe board swiftly approves $10 million in grant funds. Tuesday, September 12, 2017Texas Mutual announces its Hurricane Harvey Grant Program, with applications opening 24 hours later. Wednesday, September 13, 2017 at noonGrant applications openTexas Mutual receives more than 400 applications within the first two hours. Thursday, September 14, 2017Texas Mutual prints and mails the first check from the Hurricane Harvey Grant Program to a Texas Mutual policyholder. Texas Mutual's Hurricane Harvey Grant Program by the numbers: $10,618,497 distributed 1,107 total applications approved, a more than 97 percent approval rate 57 percent of applicants did not receive any other significant form of aid We know that our policyholders are the backbone of Texas' economy, and we have a responsibility to support the resiliency of this great stateThe Harvey Grant Program was a first of its kind for Texas Mutual, and was created from the vision of our executive teamWe thank our agents who helped to make the program possible by cosigning their clients' applications to confirm sustained damage. While recovery continues in the Houston and Gulf Coast region, Texas Mutual continues to stand with those affected by Harvey and live by our #TXMforTexas values Comments Be the first person to comment! You must Login or Register in order to read and make comments! Member Login Don't Have an Account? Click Here to Register. 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