Insurance Council of Texas News

TWIA Board approves 10 percent rate hike for windstorm insurance

By David Yates | Jul 31, 2018

Texans living near the Gulf Coast can expect to see a larger windstorm insurance bill next year.

Why Texas was such a risky market for insurance providers

By The Record | Jul 24, 2018

Why was Texas such a risky market for providers of property insurance? Was it hurricanes? Tornadoes? Hail storms? Floods?

Reinsurance expert: Biggest challenge in Texas is legal fraud, says HB 1774 a ‘fantastic step in the right direction’

By David Yates | Jul 16, 2018

Everything is bigger in Texas, including the legal fraud that ensues after every hailstorm or hurricane it seems.

Texas Watch op-ed over lack of Harvey payouts sparks rebuttals, expert calls piece the ‘same old rhetoric’

By David Yates | Jun 11, 2018

HOUSTON – In May, Texas Watch, a self-labeled consumer advocacy group, released an opinion piece arguing an “assault waged by insurance companies” in the state legislature has left many Hurricane Harvey victims still unable to resume their lives eight months later.

Harvey Insurance Claims Should Top $19 Billion

By Albert Betts | Jun 4, 2018

Albert Betts, executive director for the Insurance Council of Texas, says Texans are being harmed by misinformation and half-truths about their recovery.

Homeowner complaints stay low in 2017 despite Hurricane Harvey and hailstorms

By David Yates | Jan 31, 2018

AUSTIN - In 2017, Texas homeowners suffered significant losses as Hurricane Harvey, severe hailstorms and tornadoes ravaged the state. But despite another year of bad weather, data from the Texas Department of Insurance shows that justified consumer complaints continued to be low, with the agency recording just 351 justified complaints out of 6.7 million policies and an estimated 700,000 homeowner claims.

ICT scholarships top $1M mark

By David Yates | Nov 14, 2017

AUSTIN - On Wednesday the Insurance Council of Texas Education Foundation will join the University of North Texas in celebrating the Education Foundation’s surpassing $1 million dollars in scholarships and education funding given to support insurance education in Texas.

Insurance Council urges Texas SC to clear up ‘confusion’ stemming from past opinion in Ike suit

By David Yates | Oct 11, 2017

AUSTIN – Numerous amicus briefs have been filed seeking to have the Texas Supreme Court rehear a Hurricane Ike lawsuit brought against USAA Texas Lloyds, asserting justices need to clear up confusion created by a past opinion.

ICT estimates Hurricane Harvey insured losses at $19B

By David Yates | Sep 15, 2017

AUSTIN - The Insurance Council of Texas has placed the insured losses from Hurricane Harvey at $19 billion.

Insurance Council of Texas: Harvey could cause record damages and flooding

By David Yates | Aug 25, 2017

HOUSTON - Hurricane Harvey’s forecasted slow march through south Texas could result in record rainfall and insured losses. Harvey is expected to make landfall near Corpus Christi, which hasn’t seen a hurricane in 47 years.

2016 Texas Hail Losses surpass $5 billion, sets new record

By David Yates | Jul 5, 2017

AUSTIN - 2016 wind and hail loss information released last week by the Texas Department of Insurance show that homeowner losses from hail in Texas were the highest annual losses ever recorded, exceeding $5 billion.

Possibility of more hailstorms this year will 'continue to put more pressure on rates' for insurance

By Zachary Lewis | Mar 21, 2017

AUSTIN – Manager of Public Relations & Membership of the Insurance Council of Texas Mark Hanna expressed his concerns with the increased number of storms and whether or not 2017 will mirror previous years.

Alcohol, distracted driving causes fatal accidents in state to increase

By John Myers | Feb 23, 2017

AUSTIN – Fatal car crashes are becoming more and more common for Texas residents and the trend is impacting not just the lives of locals, but their insurance rates as well.

Weather in first half of 2016 causes $4 billion in storm damages

By Tara Mapes | Oct 13, 2016

AUSTIN – Devastating softball-sized hailstorms and widespread flooding have many insurance firms hoping the weather calms down, at least for the rest of the year.

Insurance group says tide of hail suits turning

By David Yates | Jun 21, 2016

AUSTIN - The tide my be turning in mass hailstorm litigation, as data collected by the Texas Department of Insurance shows fewer complaints being filed during 2013-2015, compared to 2012.

Houston drivers have options if cars are towed and held 'for ransom'

By Jamie Kelly | Jun 6, 2016

HOUSTON—It’s a lesson that many drivers in Houston have learned the hard way—some tow truck drivers will tow a car and then charge owners thousands of dollars to get it back, essentially holding the vehicle for ransom.

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