The Texas Insurance Daily - Your Texas Home
and Houston Auto Insurance News Source

Texas in 2009 experienced weather catastrophes amounting to more insured losses than any other state. Last year, Texas experienced 10 weather catastrophes that caused nearly $2.5 billion in losses. The next nearest state in insured losses was Colorado with $1.3 billion in losses...

If you live in Texas, the only health insurance you can buy is insurance regulated under Texas law. But if bills before Congress (most notably, one sponsored by Arizona Republican Congressman John Shadegg), are enacted, Texans would be able to buy insurance regulated, say, by the laws of Virginia, or the laws of Delaware, or 47 other states, says John C. Goodman, President, CEO and the Kellye Wright Fellow of the National Center for Policy Analysis...

Washington State Insurance Commissioner Mike Kreidler appreciates the political independence of being personally elected. It forces the insurance department to be more in tune with the needs and wants of insurance consumer, said the third-term Democrat. But Kreidler, a former congressman, said it's not without a disadvantage, too: "When you walk into a legislative session, you don't have anyone in the governor's office looking out for you."...

A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of “a-” of American Strategic Insurance Group (ASI) (St. Petersburg, FL) and its members. (See below for a detailed listing of the companies.)

The ratings reflect ASI’s continued underwriting profitability and solid risk-adjusted capitalization resulting from prudent underwriting, innovative pricing systems, effective reinsurance programs and a sound overall risk management focus. As a result, significant surplus growth has occurred in recent years, complemented by continued support from the parent company. The positive outlook contemplates that operating performance and risk-adjusted capitalization will continue to trend favorably in the near and long term, as ASI begins to further diversify its geographical footprint...

The Texas Workforce Commission uncovered close to $904,000 worth in fraudulent unemployment insurance claims that must now be repaid...