Farmers Insurance Group, one of the largest insurers in the U.S., has unveiled plans to raise rates on homeowner’s insurance policies in Texas. The new rates, if approved by state regulators, will take effect next year. The company cites the growing number of high cost claims that has been streaming in since 2008 as reason for higher premiums. The proposal for higher rates from Farmers Insurance comes on the heels of a similar proposal from State Farm that would have the same effect on homeowner’s policies. The insurer is seeking…
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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…
Read MorePro 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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