State Beat
Wednesday, December 10th, 2003 Legislation & Regulation Liability PropertyThe Alliance of American Insurers has urged the department to reconsider its position. “Mandating coverage for mold is not a benefit for consumers,” said Kirk Hansen, director of claims for the Alliance, who suggested that the DOI should learn a lesson from Texas. “It was tried in Texas with devastating results for consumers and the insurance industry,” he added. “During the time mold coverage was mandated in Texas, the number of claims soared from just over 1,000 to nearly 15,000, and the average cost for that mold coverage grew from $23 a year per policyholder, to over $300 per year.”
External References & Further Reading
http://www.claimsmag.com/Issues/Dec03/state.asp
