# Best Says Mold Will Drop Ratings In TX 

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High mold-damage claims will push down the financial-strength ratings of some Texas insurers as their financial performance and capital positions continue to deteriorate, A.M. Best, the Oldwick, N.J.-based rating company, warned yesterday.

Best said that unexpectedly large mold-related claims have disrupted the entire Texas homeowners market.

In a five-page report, Best noted that as a result of mold-damage claims, several carriers have stopped writing new business entirely in the state, while others have scaled back. Best said a large percentage of the market continues to record poor financial performance, with several carriers posting triple-digit loss ratios as of Sept. 30, 2001.

Sources:
- National Underwriter (http://www.nationalunderwriter.com/pandc/hotnews/ArcPC.asp?article=1_15_02_15_3828.xml)