Texas has been battling an outbreak of wildfires since the beginning of September. The fires have wrought carnage throughout the state, burning more than 1 million acres and more than 1,000 homes. The catastrophe has put enormous pressure on the state’s insurers who have been struggling to mitigate the damage caused by the fires. The disaster is so serious that State Farm Insurance has petitioned the Texas Department of Insurance to designate the wildfires as an official catastrophe. The petition was submitted to the Department on September 12, but regulators…
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Texas residents received fraudulent windstorm inspections, may not be eligible for coverage
The Texas Windstorm Insurance Association, the state-run insurance program that is one of the very few places offering coverage against wind damage to Texas residents, will continue to offer insurance coverage thanks to a special session of the state’s Legislature. Lawmakers toiled over the issue for some time, often unable to meet a consensus on what should be done about the indebted program. The decision was made some weeks ago that the program should continue, but with changes. Along with these changes come new home inspections, which will determine whether…
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