TDI to Require Online Applications for Insurance Licenses
Texas Department of Insurance (TDI) has recently announced that it will now require online applications for most individual insurance related licenses.
Read MoreTopic: Texas Developments
Locke Lord LLP Attorney Jon Gillum Contributes to Inaugural Insurance Regulatory Event in Austin
Locke Lord LLP Senior Counsel Jon Gillum has been serving on the Planning Committee for a joint effort by the Insurance Section of the State Bar of Texas and the Austin Bar Association to increase the involvement of Texas insurance regulatory attorneys in bar activities.
Read MoreTexas Department of Insurance Now Has a “Second-in-Command”
Long-time TDI senior staff member Doug Slape has been promoted to a newly-created position at the Texas Department of Insurance. According to the Department, Slape has been named “second-in-command” behind Insurance Commissioner Kent Sullivan.
Read MoreLocke Lord LLP Austin Attorneys Jon L. Gillum and Lauren Fincher Publish “Cross-Agency Regulation of Service Contracts in Texas” in Latest Issue of the Texas Tech Administrative Law Journal
Under Texas law, extended warranties or “service contracts” are potentially subject to regulatory oversight by four state agencies.
Read MoreTWIA Issues Substantial Harvey Assessment
The Texas Windstorm insurance Association (TWIA) has announced that its board of directors at its May 8, 2018 meeting approved a $175 million member assessment linked to losses arising from Hurricane Harvey.
Read MoreTexas General Land Office Releases Hurricane Harvey State Action Plan
On April 10, the Texas General Land Office (“GLO”) released a draft of the State of Texas Plan for Disaster Recovery: Hurricane Harvey – Round 1 (the “State Action Plan”).
Read MoreInsurers Brace for a Texas-sized Assessment for FAIR Plan Members
At its recent December 11th meeting in Corpus Christi, Texas, the Governing Committee of the Texas FAIR Plan Association (TFPA) is reported to have approved an assessment for its insurance company members of over $64 million in relation to a currently estimated $90 million gross loss for the TFPA from Hurricane Harvey and a 2016 year-end and ongoing 2017 operating deficit.
Read More2017 Hurricane Season the Costliest on Record
The 2017 United States Atlantic hurricane season, which officially ended on November 30, was the most expensive ever according to one report. Disaster modelers Chuck Watson and Mark Johnson concluded that total damages for the season, which included Hurricanes Harvey, Irma and Maria, topped $202 billion.
Read MoreTexas Department of Insurance Warns Against Improper Underwriting After Hurricane Harvey
The Texas Department of Insurance (TDI) has cautioned insurers against improper underwriting activities in the wake of Hurricane Harvey. Specifically, TDI issued Commissioner’s Bulletin # B-0032017 on September 21, 2017, which reminds insurers of certain underwriting laws and regulations applicable to personal automobile and residential property insurance that are particularly relevant in the aftermath of a major tropical weather system.
Read MoreTexas Department of Insurance Cautions Insurers Against Unauthorized Market Withdrawals following Hurricane Harvey
On September 15, 2017, the Texas Department of Insurance issued a public bulletin concerning possible insurance company reductions in business following Hurricane Harvey.
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