Early estimates from the tornadoes and hailstorms that hit Dallas April 3 suggest at least $300 million in insurance claims, with the total projected to rise to potentially as high as $500 million.
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Texas
The Texas Department of Insurance recently approved several homeowners insurance rate increases that were submitted by Allstate Fire and Casualty and Allstate Texas Lloyds. These rate increases, according to Allstate corporate relations spokesperson Kristen Beaman, are necessary due to rising loss costs, which are rising faster than premiums. From Insurance Journal: Homeowner insurance rate hikes [...]
Letter from Austin: Texas policyholders don’t like Ike
Claims to the Texas Windstorm Insurance Association stemming from the September 2008 storm continue to pile up.
Letter from Austin: Kitzman drops bomb on TWIA
In just over a decade, the Texas Windstorm Insurance Association’s market share has tripled to include over half of the policies written in the Tier 1 coastal region of the state
A new report from the National Association of Insurance Commissioners examining insurance premiums and risk exposure in every state was released in early January, and state insurance regulators and legislators alike are now scrambling to explain how these rates came to be. In the press release announcing the new report the NAIC explained how they [...]
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