The Road to Hail Reform – An Update
A couple of items from the Insurance Council of Texas.
The House Insurance Committee met last week, where they heard from TDI about the results of their data call regarding hail litigation in Texas. Lots of interesting stuff in the TDI report which is titled “The Cost of Weather-Related Property Claims and Related Litigation” and which you can find on the TDI website. An interesting tidbit highlighted by ICT:
South Texas accounts for about 4 percent of all sampled windstorm and hail claims and about 56 percent of claims involving lawsuits. (Page 12)]
ICT also highlighted a Texas Tribune story about business interests pushing back against the reform legislation. Noted policyholder attorney Ernest Martin of Haynes and Boone has provided the Legislature with his analysis of the bill, which he says, “does more harm to Texas business policyholders than it does to prevent litigation abuses by homeowners or their storm chasing lawyers.”
We appreciate the good work that ICT is doing in following this legislation and we will continue to work to bring you news of its progress through the Legislature.