Bad Faith: Texas Man Receives $288K in Lawsuit Against State Farm
A Texas man who sued State Farm insurance for deducting money from his total loss settlement was awarded $288,517.59 by a jury earlier this month.
July 18, 2023
Auto
Litigation
Texas
Texas Supreme Court to Decide If Attorney Fees Owed After Appraisal Award
A federal appellate court, facing contradictory rulings from federal courts, has sought the intervention of the Texas Supreme Court to settle the question of whether attorney fees can be awarded to claimants when insurers pay appraisal awards plus owed interest for delayed payments.
July 14, 2023
Litigation
Texas
Hail Losses: June Storms Leave Massive Insured Damages
Severe thunderstorm activity from June 11-15 caused $7 billion to $10 billion in insured losses, according to a report Monday from data and analytics company CoreLogic Inc. This loss estimate includes damage to residential, commercial, and industrial property, as well as automobiles, but excludes damage to infrastructure such as roads, utilities and governmental facilities.
June 28, 2023
Auto
Property
Arkansas
Oklahoma
Texas
Tornado Leaves Catastrophic Damage in Matador, Texas
Texas Gov. Greg Abbott updated the state’s disaster declaration on Thursday to include six additional counties on Thursday following deadly severe weather on Wednesday evening, bringing the total tally covered by the declaration to 21 counties.
June 23, 2023
Property
Texas
June Hailstorm in Texas Drives Insured Losses of Over $1B
Catastrophe modeller Karen Clark & Company (KCC) has estimated that the June hailstorm in Texas has caused insured losses of over $1 billion.
June 20, 2023
Auto
Catastrophe
Property
Texas
Lightning Caused $952M in U.S. Insurance Claims in 2022
More than $950 million in lightning-caused U.S. homeowners insurance claims were paid out in 2022 to 62,000-plus policyholders, with $125 million of the total attributable to California alone, according to the Insurance Information Institute (Triple-I.).
June 16, 2023
Property
California
Florida
Georgia
Texas
Perryton Tornado Disaster: 3 Fatalities and Extensive Damage Reported
A destructive tornado tore through Perryton, Texas leaving a trail of devastation in its wake. The tornado, which directly struck the heart of the community, has claimed the lives of three individuals and caused significant damage to hundreds of homes and businesses.
June 16, 2023
Property
Texas
Texas Police Bust Auto Theft Ring That Stole $2.5M in Trucks in One Month
Detectives with the Plano Police Department said suspected thieves stole more than $2.5 million worth of trucks and SUVs from around North Texas. Details about the alleged crimes, which reads like a crime series on a streaming platform, were detailed in an arrest probable cause affidavit.
June 15, 2023
Auto
Fraud
Texas
Flood Risk in the United States: Miami Tops List of Most Vulnerable Cities
Floods pose a severe threat to communities across the United States, causing extensive property damage and potential risks to human life. Recognizing the importance of identifying flood-prone cities, Insurify developed a flood risk score, taking into account FEMA’s risk scores for coastal and river flooding, population data, average home insurance premiums, and average home values.
June 15, 2023
Catastrophe
Property
Florida
Louisiana
New Jersey
Texas
Texas Bill Stops Insurers from Considering ESG Criteria in Setting Rates
Insurers in Texas can no longer account for environmental, social or governance criteria when setting rates for almost all forms of insurance under a bill passed by the Legislature last month.
June 13, 2023
Insurance Industry
Legislation & Regulation
Texas
This Hurricane Season May See a Key FEMA Disaster Fund Run Out of Money
Many of the nation’s disaster organizations are exposed to perilous financial risks at the start of hurricane season, jeopardizing efforts across much of the U.S. to recover from catastrophes.
June 8, 2023
Catastrophe
Property
Florida
Louisiana
Texas
Texas Comp Division Releases COVID-19 Claims Data
Workers compensation insurers in Texas reported nearly 100,000 COVID-19 claims and 472 fatalities between March 2020 and April of this year, and more than half of both involved first responders and correctional officers, according to new data made public by the Texas Department of Insurance, Division of Workers’ Compensation.
June 6, 2023
Workers' Compensation
Texas
10 States Sue FEMA Over Higher Flood Insurance Rates
Ten states and dozens of municipalities are suing the Biden administration over rate hikes in the National Flood Insurance Program. That program offers coverage in high-risk flood areas and is administered by FEMA, the Federal Emergency Management Agency.
June 2, 2023
Legislation & Regulation
Litigation
Property
Florida
Idaho
Kentucky
Louisiana
Mississippi
Lawsuit Claims Texas Firm And Estimators Likely Conspired to Inflate Louisiana Damages
Houston law firm McClenny Moseley and Associates has been accused of a litany of questionable, and potentially illegal, practices in recent months. Now, a group of former employees of an estimating company say their former employers likely conspired with the firm to hike up the value of Hurricane Ida claims by exaggerating damages.
May 30, 2023
Fraud
Litigation
Property
Louisiana
Texas
Contractual Additional Insureds -- What Coverage? The Texas Supreme Court Weighs In
Primary and excess insurance carriers and their counsel need to pay close attention to a new Texas Supreme Court case Exxon Mobil vs. National Union Fire Insurance Company of Pittsburgh Pennsylvania and Starr Indemnity & Liability Insurance Company, Supreme Court of Texas, Case No. 21-0936.
May 16, 2023
Insurance Industry
Litigation
Texas
