Tag: Texas insurance news

Insurance news from fertilizer plant explosion includes high initial estimates

G. Turner
Insurance News

The most recent figures say that the damages in West could be worth up to $100 million. According to the latest insurance news estimates from an industry group, the damage that resulted from the fertilizer plant explosion in West, Texas, could reach as high as $100 million. This estimate includes not only the damage to the plant, itself, but also to the nearby homes. According to the insurance news release from a spokesperson for the Insurance Council of Texas, Mark Hanna, there were approximately 140 homes that were destroyed in…

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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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Texas Department of Insurance warns of rate hikes

Highest property insurance rates in the United States found in Texas

Texas Department of Insurance predicts rate hikes for 2013 Thousands of Texans are expected to see significant rate hikes for their health insurance coverage this year, largely due to the Affordable Care Act. The Texas Department of Insurance expects that more than 163,000 consumers throughout the state will see double-digit increases in their premiums due to the provisions of the federal health care law. The law does not go into full effect until 2014, but several of its provisions will be enacted this year in an effort to ease the…

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Homeowners insurance policyholders in Texas face highest premiums

Julie Campbell
Texas homeowners Insurance

Residents of the state are paying the largest amount for their coverage when compared to all other states. According to recently released data from the National Association of Insurance Commissioners (NAIC), residents of Texas are still paying the highest premiums for their homeowners insurance coverage. Though this remains the case, two other states on the Gulf Coast have rates that are nearly as high. In 2010, the average annual premiums paid by Texas homeowners insurance customers for the most commonly sold policy had been listed at $1,560. That amount 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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