Tag: raising rates on property insurance

Disaster declaration renewed in Texas as devastating drought persists

Texas Governor Rick Perry has renewed a declaration of disaster regarding the state’s ongoing and costly drought. Last year, the declaration was renewed several times, as the drought showed no signs of relenting. According to the National Weather Service, 2011 was the driest year Texas has ever known and the second hottest. The conditions ignited several wildfires throughout the state that caused damage to hundreds of homes and ruining thousands of acres of land. Insurers have been battling the disaster as fervently as state officials, but there seems to be…

Read More