Texas insurers consider rate hikes to offset losses from disasters and theft

Texas has been hit hard by recent natural disasters. From the continuing drought that grips much of the southern and western parts of the state, to flooding from Louisiana hurricanes further to the east, the insurance industry has taken a major financial blow. With insurance reserves falling, many insurers in central Texas are beginning to consider raising rates in order to offset losses. Disasters may not be the only factor contributing to rate increases, however, as there has been an increase in thefts last year. Insurers are beginning to feel…

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Charles Short Insurance offers Texas business owners advice for coverage of horses

The Charles Short Insurance team has recognized the importance of animals to Texans, and has made efforts to acknowledge the problems that those individuals face regarding risks connected with running a business that includes them. Companies that do involve animals have a significant challenge ahead of them and will usually opt for Texas general liability insurance to try to cover themselves in case an accident should occur as a result of one of the animals, or in their barns or elsewhere on their farms. Though this will not replace standard…

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Texas drought costing billions in losses

While much of the South in inundated with water, Texas is suffering from one of the worst droughts in recent history. Last week, the level of drought rose a staggering 22%, putting the level at 48%. There have been more than 9,000 wildfires throughout the state, causing damage to some 400 homes and burning 2.2 million acres of land. Texas officials are seeking aid from the federal government to help mitigate the expected $3 billion in losses because of the severe drought. Farmers across the state are reporting damage to…

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