Texas Baptists has authorised the creation of a captive insurance programme that will offer P&C insurance for churches across Texas.
The decision came during the annual Baptist General Convention of Texas (BGCT) meeting on 11 November, where attendees also elected new officers and approved a 2025 state budget of US$36.7 million.
The proposed insurance pool aims to provide affordable coverage to churches in response to several major insurers withdrawing from the Texas market.
With many churches facing rising premiums and deductibles or losing coverage altogether, the captive insurance model will function similarly to a cooperative, helping churches pool resources for mutual benefit.
Bobby Contreras, BGCT executive board chair, recommended the formation of a new corporation to handle this insurance programme and establish the necessary financial groundwork.
The insurance pool will require capitalisation of at least 25 per cent of the first year’s premiums, estimated between US$1.5 million and US$5 million, based on projected participation.
The BGCT board had previously approved initial steps to develop this programme during a meeting in September, pending a feasibility study and final authorisation from the executive committee.
If successful, the captive insurance programme could reduce premiums by up to 30 percent compared to the open market, according to Keith Warren, administrative support committee chair.
