Latest Texas Headlines
All the headlines from our Texas Topic Page, ordered by recency.
S&P Lowers State Farm Lloyds
Feb 25 2002 // Standard & Poor’s lowered its counterparty credit and financial strength ratings on State Farm Lloyds (SF Lloyds), which writes homeowners insurance in Texas, to “A” from “AAA.” At the...
The Ocean Marine Market: A Unique Animal
Feb 25 2002 // Like life itself, insurance began in the ocean, eventually spawning like the varius land-based descendents we’ve come to know. While those terrestrial variants-auto, homeowners, commercial liability, among others-now...
Building Profitability into the Commercial Auto Market
Feb 11 2002 // Like most property and casualty insurance lines, the commercial auto insurance market has witnessed rate increases over the past year and expects to see more. And, as in other lines, underwriters are scrutinizing accounts...
Texas Workers’ Comp Fraud
Feb 11 2002 // A Travis County District Court sentenced Liza Fortune on charges of insurance fraud and ordered her to pay $15,013.89 in restitution to Texas Mutual Insurance Company. Fortune’s two-year sentence was suspended for...
It Couldn’t Be Done: A Policyholder’s Idea To Reinvigorate Third Party Bad Faith
Jan 28 2002 // The Setting Throughout the 1980’s and early 1990’s, the risk of bad faith liability was a major factor in evaluating third party claims for coverage. Ever increasing jury verdicts led to many inflated...
TDI Looks into Pricing; Mold Task Force Appointed
Jan 28 2002 // The Texas Department of Insurance recently opened two fronts in the battle to shore up the weary homeowners market in the state. Responding to consumer complaints about excessive rate increases—exceeding 100 percent in...
Rising Prices Hit Commercial Property Market
Jan 28 2002 // Dire predictions have been floating around since September 11 regarding the availability and pricing of insurance coverage for commercial property, largely due to the issues surrounding terrorist exclusions and whopping...
Evolving HO Policies Prompt Montemayor to Issue Consumer Alert
Jan 14 2002 // Homeowners insurance policies in Texas are rapidly evolving. As a result, Texas Insurance Commissioner Jose Montemayor warned the state’s homeowners policyholders to carefully review their policy renewals to...
TDI Proposes Mile-Based Auto Insurance Rules
Jan 14 2002 // In late December 2001, the Texas Department of Insurance proposed rules that would allow auto insurers to voluntarily offer mile-based insurance rates to those consumers who drive less often than others. The proposed...
Automobile Dealer Surety Bonds: What Constitutes A Breach of Condition’
Jan 14 2002 // Many surety bonds are tailored for particular relationships or statutory requirements—one such example is the motor vehicle dealers bond required by Section 503.033 of the Texas Transportation Code. While there are few...
Study Analyzes Potential Impact of Toxic Mold
Jan 9 2002 // As insurance companies encounter a growing number of toxic mold and mildew-related claims, the industry needs to be acutely aware of health risks associated with the problem, as well as coverage considerations, public...
Welcome to the 3rd Annual “Top Ten Stories of the Year”
Dec 24 2001 // In what became one of the most significant, traumatic and challenging years in U.S. history, the insurance industry, along with the rest of the nation, has had to come to terms with the terrorist attacks perpetrated...
NAFTA: Proceed, but with Caution
Dec 17 2001 // The problems swirling around the twin issues of safety and insurance with regards to allowing commercial trucks from Mexico free access to U.S. highways are as thorny as a prickly pear cactus. The U.S. House of...
Balking on Refund Plan for Overcharges, Farmers Says it’s Negotiating
Dec 17 2001 // Farmers Insurance Group, the third-largest auto insurer in Texas, has yet to agree to refund an estimated $8 to $10 million to policyholders it admitted overcharging, stating instead that it is continuing to negotiate a...
INSURANCE AUTO AUCTIONS EXPANDS
Dec 17 2001 // Insurance Auto Auctions Inc., a Schaumberg, Ill-based auto salvage and claims processing service provider, announced the opening of a new greenfield facility in Longview, Texas. The new facility, IAA’s seventh in...
Top 10 Stories of 2001
Dec 17 2001 // Recollections and Renewal: Looking Back at 2001 with an Eye to the Future This is the year that was. It is one that many people will be glad to see come to an end because the new year always brings hope—for a rebirth,...
Highlands Insurance Group to Restructure; Stop Writing Policies
Dec 17 2001 // As the Highlands Insurance Group Inc. attempts to restructure itself and return to profitability, it has announced plans to stop writing any new or renewal insurance policies, and is considering selling business or...
Texas Defendants Must Pay $26 Million for Defrauding State Farm
Dec 17 2001 // In Houston, U.S. District Judge Melinda Harmon ordered four defendants accused of defrauding State Farm Insurance by making false claims in hundreds of staged auto accidents to pay damages to the tune of $26...
Texas Homeowners Market Tightens As More Carriers Withdraw
Dec 3 2001 // Two more insurance carriers, Union Standard and Ohio Casualty, have announced their withdrawal from personal lines in the Texas market, according to the Independent Insurance Agents of Texas (IIAT). Union Standard’s...
From Promotions to Sport Pros, Special Events Insurance Covers it All
Dec 3 2001 // During the playoffs between the Seattle Mariners and the New York Yankees preceding the 2001 World Series, the National-Hole-in-One Association provided insurance coverage for a promotion sponsored by a Seattle-based...
