MidSouth Mutual Insurance Company was born out of the Home Builders Self Insurance Trust (HBATSIT) in December of 2012. The trust was originally founded in 1995 in response to substantial dislocations in the workers' compensation insurance marketplace. In Tennessee and across the nation builders found themselves facing rapidly escalating premiums, difficult underwriting requirements and in many cases a complete inability to find workers' compensation insurance coverage.
Leadership in the Homebuilders Association of Tennessee and forward-looking members of the home building industry sought an effective solution to solve both the immediate need and offer greater stability in both the price and availablity of workers' compensation coverage over the long-term. That solution was the formation of HBATSIT. Since 1995, the HBATSIT served the members of the home building industry across the state providing reliable workers' compensation protection to the industry. Now, MidSouth Mutual Insurance Company will carry that same mission forward into the future.
Beyond the clear benefit of access to workers' compensation insurance, MidSouth Mutual Insurance Company enables builders and contractors to share in the ownership of the entity that provides their workers' compensation protection. Homebuilders in Tennessee understand the value of ownership which forms the very foundation of capitalism where an individual or company can share in the risk and reward of ownership.
As MidSouth Mutual Insurance Company moves forward it will be clearly focused on meeting the needs homebuilders and contractors across the state of Tennessee. Already, there are a number of inititiaves in place that will enhance the services provided to clients in the coming months.