Texas Gov. Greg Abbott has suspended a state statute in ordered to help facilitate the payment of insurance claims for vehicles that were totaled by Hurricane Harvey, the governor’s office said.
Abbott temporarily suspended a law that required a 30-day waiting period and certain notifications for insurers that are unable to obtain current vehicle titles prior to paying claims on non-repairable vehicles
The Texas Department of Motor Vehicles (TxDMV) estimates that more than 500,000 vehicles were damaged by the storm.
According to the governor’s announcement the suspension of the 30-day/notification rule will serve to expedite the claims process, resulting in faster payments from insurance companies on claims for totaled vehicles.
Source: Texas Governor’s Office
Was this article valuable?
Here are more articles you may enjoy.
Munich Re Unit to Cut 1,000 Positions as AI Takes Over Jobs
Viewpoint: Runoff Specialists Have Evolved Into Key Strategic Partners for Insurers
Florida Regulators Crack the Whip on Auto Warranty Firm, Fake Certificates of Insurance
Lemonade Books Q4 Net Loss of $21.7M as Customer Count Grows 

