New Texas insurance law may make things harder for Hurricane Harvey victims

flood city texas insurance law

As the very first steps for recovery begin, HB 1774, signed into law by Texas Governor Greg Abbott (R) becomes effective. A Texas insurance law, signed by Governor Greg Abbott back in May, will become effective tomorrow. This, at a time when Hurricane Harvey victims are taking the very first steps toward understanding what they can do to recover. Houston, the fourth most populous city in the United States, may have years of recovery ahead. The Texas insurance law will be changing the way claims lawsuits are handled when they…

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Liability insurance exclusions limited for builders in Texas

Contractor Liability insurance

The Supreme Court in the state has also restricted the exclusions for general contractor coverage. The Texas Supreme Court has given a new ruling that may help to increase the consumer confidence levels in terms of the liability insurance coverage that is carried by general contractors as well as builders. The ruling will help to decrease the number of exclusions that exist on these policies. This insurance news was made when Justice Phil Johnson made a ruling that denied the attempt of an insurer to avoid having to pay a…

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Texas Insurance Commissioner’s job may be on the line

Insurance news - Eleanor Kitzman Texas Insurance Commissioner

Democrats in the Senate shot down at least one of the appointments made by the Governor in recent sessions. Texas Insurance Commissioner Eleanor Kitzman may be the next one in the crosshairs for the Senate Democrats in the state, which have taken down at least one of the appointments made by Governor Rick Perry in each of the last two legislative sessions. Kitzman was first appointed in 2011 by the governor, and “has serious problem” in the Capitol. This statement was made by Senator Kirk Watson (D-Austin). The Texas Insurance…

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91% of Texans to be insured by 2014, thanks to the Affordable Care Act

The Texas Medicaid Director, Billy Millwee, spoke to the House Public Health and Insurance committees this week regarding the Affordable Care Act. The director has been tracking the trends and effects that the federal health care law has birthed in the state and has come to a promising conclusion. Currently, 74% of the state’s residents have some form of health insurance coverage. Millwee claims that when the Affordable Care Act is fully enacted in 2014, this will jump to 91%. By that time, only 2.3 million Texans will have no…

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Texas windstorm insurance legislation inches closer to becoming law

Texas lawmakers have been toiling over changes to the state’s insurance program, the Texas Windstorm Insurance Association. The program provides affordable coverage to coastal residences and is one of the few organizations through which homeowners can obtain protections from wind damage. Legislators have been debating over the necessity of the program and whether or not the state should continue to support it. A definitive decision had not been made before the end of the legislative session, but Senators were unwilling to let the issue slide into obscurity. After calling for…

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The fate of the Texas state run wind pool still undecided

Texas lawmakers will be convening in a special session of Senate after they were unable to determine the fate of the state’s Windstorm Insurance Association. The state-run insurance program provides coverage to homeowners in coastal areas that are prone to hurricanes. A bill to reform the program was before the state Senate last months, but legislators were unable to reach a compromise regarding the provisions of the bill. Now, the Legislature will be in session until a verdict can be reached. One of the provisions of the bill to reform…

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Current slab claim process under review in Texas

Texas lawmakers approved revisions to the state’s windstorm fund this week. The Texas Windstorm Insurance Association, a pseudo-government agency in charge of providing insurance coverage to coastal properties prone to hurricane damage, has been the subject of debate amongst legislators for some time now. Senate approved reform will address several issues, including new methods to determine whether damage is caused by wind or water. The reform bill, House Bill 272, was passed unanimously by the Senate. One of the issues to be addressed by the system reform is how the…

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Texas Department of Insurance receives long awaited extension

Lawmakers in Texas voted to extend the longevity of the state’s Department of Insurance. The department will also enjoy more authority over the insurance industry and will be able to impose stricter penalties when companies challenge the agency’s rate assertions and lose. The relevance of the Department had been debated for some time before a decision was reached Monday. Many legislators say that the ruling was long overdue. According to Texas law, state agencies must be evaluated for effectiveness every 12 years. Legislators determine whether these agencies provide a necessary…

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Pro business Texas insurance bill passes

The Senate of Texas has passed a new insurance bill that has been the subject of a great amount of controversy. The bill will extend the life of the Texas Department of Insurance and will impose stricter guidelines on the agency itself. Previous to the bill’s passage, a number of amendments were proposed to make the legislation more consumer friendly. Each amendment was rejected, however, as they were deemed unfruitful to the state’s insurance industry. The state’s Democrats were behind the amendments to the bill. They argue that their propositions…

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