Texas Windstorm Insurance Association at the heart of new controversy

Texas Windstorm Insurance Association

Email about Texas Windstorm Insurance Association sparks turmoil There is turmoil in Texas after an internal email from the state’s Department of Insurance suggests that property insurance rates may be on the rise. According to the email, which comes from Insurance Commissioner Eleanor Kitzman, the agency is weighing its options with the beleaguered Texas Windstorm Insurance Association and may be looking to raise rates on properties along the Gulf Coast to help remedy the organization’s financial troubles. The email has raised concerns amongst consumers, advocacy groups, private insurance companies, and…

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Lawmakers convene to discuss Texas Windstorm Insurance Association

Insurance News Chartered Health Plan

Texas Windstorm Insurance Association subject to examination Lawmakers met in Austin, Texas, this week to discuss the issues that are plaguing the Texas Windstorm Insurance Association. The state-run insurance provider has long been the best location for consumers to find affordable and comprehensive wind insurance policies. Coverage for wind damage is often not included in homeowner’s insurance policies in Texas, leaving many consumers without protection in the event of a powerful wind storm. Insurance Commissioner Eleanor Kitzman was present during the meeting to provide insight on the problems facing the…

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Texas insurance rates higher in some ZIP codes than in others

Texas homeowners Insurance

State Farm says that this calculation factor is justified in the northern part of the state. The largest Texas insurance company, State Farm, has responded to concerns regarding the calculation of its rates, as there are disparities in premiums charged depending on the ZIP codes in which the policyholders live. An analysis was performed in Dallas regarding homeowners rates and found significant discrepancies. In fact, when comparing homes of similar values, claims histories, and coverage, Texas insurance rates charged by State Farm based exclusively on ZIP codes could mean a…

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Texas Department of Insurance targeted by critics over blocking of emails

Texas Insurance

Agency blocks thousands of messages from consumers The Texas Department of Insurance has received hundreds of letters from consumers concerning the rates of homeowners insurance policies. The emails have been coming in since early July, with a total of 334 messages making their way to Insurance Commissioner Eleanor Kitzman. The rest of the emails have been blocked, with many of the addresses sending the messages being blacklisted by the agency in an effort to reduce the number of messages being received. The blocking of these addresses has caused some controversy…

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Homeowners insurance up 21 percent in Texas

Texas Homeowners Insurance

Data shows premiums have skyrocketed since 2009 for home coverage in the state. Though the premiums for homeowners insurance in Texas have been the most expensive among all of the states for a long time, recent data has revealed that they have climbed 21 percent since 2009. This increase is much faster than the rate hikes seen in most other states. This data came from a report released by the Texas Department of Insurance. This same report identified a number of different factors that have contributed to the increases in…

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