Tag: Texas insurance

Texas insurance rates for windstorm coverage to increase by 5 percent

Texas Windstorm Insurance

Texas Windstorm Insurance Association approves price hike. Homeowners and business owners in the coastal areas of the state will see an increase of 5 percent in their Texas insurance rates for their coverage against windstorms next year. This announcement came following the approval from the board of directors at the Texas Windstorm Insurance Association. That same board has also postponed a decision regarding whether or not they will approve the enactment of another increase which would be determined by the distance from a property to the shoreline. That decision was…

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

Marc

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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Allstate Insurance announces expansion and hiring in the Southeast and Texas

Allstate Insurance Company has announced a number of different areas in which it will be making new hires this year. These include Alabama, North Carolina, South Carolina, Georgia, as well as Texas. This large insurer, has said that it is hoping to bring in 124 new agency owners within the Southeastern states. As a part of that intention, it is offering a referral reward of $5,000 to anyone who refers a qualified candidate who receives an appointment this year. As a part of a candidate’s qualification, he or she must…

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Texas insurance regulators looking to restructure state’s Windstorm Insurance Association

Marc

The Texas Department of Insurance is looking to restructure the state’s Windstorm Insurance Association. The state-run insurance group provides protection from wind damage, something that many of the state’s private insurance companies do not offer. Like similar organizations in other states, the Windstorm Insurance Association has fallen prey to mounting debt. Insurance Commissioner Eleanor Kitzman is now looking for approval from legislators to hire a private consultant to aid in the program’s restructuring. The program was originally meant to be a last resort for state residents who could not find…

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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…

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