Please disregard our previous email due to an error. We’ve included the corrected information below for your reference. We appreciate your understanding and apologize for any inconvenience caused.
Good afternoon!
For the latest updates from ICT in the insurance industry follow us on
LinkedIn and don’t forget to enable notifications 🔔
Find more Texas related P&C insurance information and news on the ICT website
|
House Committees Announced for the 89th Legislative Session
|
Insurance
The House Insurance Committee consists of nine members, with the majority being new to insurance-related policymaking. Of the nine members, only three have previously served on the committee. Chairman Jay Dean, R-Longview, is leading the committee for the first time. A former mayor and city councilman, Dean has served in the Legislature since 2017.
Other members of the committee include Vice Chair Hubert Vo, D-Alief, who has previously served on the Insurance Committee, as well as returning members Dennis Paul, R-Webster, and David Spiller, R-Jacksboro. Jessica González, D-Dallas, also has prior experience on the committee. New members include Vikki Goodwin, D-Austin; Andy Hopper, R-Decatur; Matt Morgan, R-Richmond, who is a public adjuster; and Trey Wharton, R-Huntsville, an independent agent.
Trade, Workforce and Economic Development
The newly established Trade, Workforce and Economic Development Committee will have jurisdiction over workers' compensation matters and will be chaired by Angie Chen Button, R-Richardson. The committee includes Vice Chair James Talarico, D-Austin, along with members Keith Bell, R-Forney; Salman Bhojani, R-Euless; Caroline Harris Davila, R-Round Rock; Oscar Longoria, D-Mission; John Lujan, R-San Antonio; Shelley Luther, R-Sherman; Terry Meza, D-Irving; Claudia Ordaz, D-El Paso; and Keresa Richardson, R-McKinney.
Delivery of Government Efficiency
The Delivery of Government Efficiency Committee will oversee government efficiency and address waste, fraud and abuse. Additionally, it has been assigned jurisdiction over advancements in science and technology, including responsibilities previously handled by the Select Committee on Artificial Intelligence and Emerging Technologies. The committee is chaired by Giovanni Capriglione, R-Southlake, who has also authored the session’s AI bill.
Other members of the committee include Vice Chair Salman Bhojani, R-Euless; Rhetta Bowers, D-Rowlett; Briscoe Cain, R-Deer Park; David Cook, R-Mansfield; Ana-Maria Rodriguez Ramos, D-Dallas; Daniel Alders, R-Tyler; Elizabeth Campos, D-San Antonio; Pat Curry, R-Waco; Linda Garcia, D-Mesquite; Mike Olcott, R-Aledo; Tony Tinderholt, R-Arlington; and Ellen Troxclair, R-Marble Falls.
|
TDI's Embedded Prosecutors Mark 20 Years Fighting Insurance Fraud
|
For 20 years, the Texas Department of Insurance (TDI) has embedded prosecutors in district attorney offices statewide to combat insurance fraud. The program strengthens enforcement, holds offenders accountable, and protects consumers. Prosecutors in TDI’s Fraud Unit highlight its success in deterring fraud and securing convictions.
Learn More
|
TWIA Board to Set 2025 Storm Season Funding at Feb. 25 Meeting in Galveston
|
The Texas Windstorm Insurance Association’s Board of Directors will meet on Tuesday, Feb. 25, at 9 a.m. CT at the Moody Gardens Hotel in Galveston. The Board will determine funding needs for the 2025 storm season, review financial results, and address other Association business. The meeting is open to the public, with opportunities for in-person and virtual participation.
Key Points:
- Storm Season Funding: The Board will establish TWIA’s 1:100 probable maximum loss (PML) and reinsurance needs for 2025, with catastrophe modeling insights from Aon.
- Policy Growth & Exposure: TWIA’s policy count grew 10% in 2024, and exposure increased nearly 19%, contributing to higher reinsurance needs.
- Financial & Operational Review: The Board will review 2024 financials, discuss Board officer vacancies, and receive updates on Hurricane Beryl claim payments.
- Public Participation: The public can attend in person or via Zoom, and verbal or written comments can be submitted.
- Meeting Access: The meeting will be livestreamed on YouTube, with materials and recordings available in TWIA’s Meeting Library afterward.
More Information and Links to view the Meeting
|
Webinar to Explore Innovations in Wildfire Risk Assessment
|
Insurance professionals can gain key insights into wildfire risk assessment in an upcoming webinar featuring Clark and Seth from RedZone. The session will cover advancements in risk scoring, strategies to manage accumulations at the time of quote, and the role of homeowners in mitigation efforts. Speakers will also discuss private insurance response programs and their effectiveness. The webinar aims to help insurers refine underwriting strategies and support policyholder resilience in the Texas market. Register now to secure a spot.
|
|
ICT in the News: How to assess your
area's wildfire risk in North Texas
|
Wildfires in Los Angeles County this January serve as a stark reminder that Texas is no stranger to destructive grassfires. Rich Johnson, spokesperson for the Insurance Council of Texas, emphasized the importance of wildfire preparedness, noting that homeowners who take steps to mitigate fire risks may have a better chance of securing insurance. Experts say small preventive measures, from landscaping choices to home maintenance, can make the difference between a home surviving a wildfire or being destroyed.
Key Takeaways:
- Wildfire Risk in Texas – Fires in the Texas Panhandle and Balch Springs have caused significant destruction, highlighting the ongoing risk across the state.
- Defensible Space Matters – Fire-resistant landscaping, such as replacing mulch with rocks and keeping vegetation trimmed, can reduce fire spread.
- Community Efforts Help – Cities like Lucas, Texas, have adopted Firewise USA practices, encouraging neighbors to work together to lower fire risks.
- Home Hardening is Key – Using fire-resistant materials, sealing vents, and clearing debris from roofs and gutters can help homes withstand embers.
- Insurance and Wildfire Mitigation – While discounts may not always apply, taking fire precautions can improve insurability and reduce the likelihood of filing a claim.
|
|
East Texas Rep. Hefner named chair of homeland security; Dean to chair insurance committee
|
Rep. Cole Hefner and Rep. Jay Dean from East Texas have been appointed to influential legislative positions. Hefner will lead the Homeland Security, Public Safety & Veterans Affairs Committee, while Dean takes charge of the Insurance Committee, where he plans to focus on reducing costs for policyholders.
Key Takeaways:
- Hefner’s leadership - He will chair the Committee on Homeland Security, Public Safety & Veterans Affairs and is focused on ensuring clear and enforceable legislation.
- Dean’s priorities - As chair of the Insurance Committee, Dean aims to tackle rising insurance costs for Texans.
- East Texas influence - Both appointments enhance East Texas’ influence in the state legislature.
- Impact on insurance - Dean’s focus will likely result in policy changes designed to reduce insurance costs for residents.
- Committee structure - Dean is working on establishing the committee's rules to ensure efficient operations as the legislative session begins.
|
|
State Farm Was All In on California—Until It Pulled the Plug Before the Fires
|
After the pandemic, State Farm aggressively expanded in California’s wildfire-prone areas while other insurers retreated, gaining significant market share. However, internal warnings about unsustainable risk levels led to a sharp policy reversal in 2023, leaving many homeowners without coverage.
- By 2022, State Farm controlled over 20% of California’s home insurance market, collecting $2.7 billion in premiums in 2023.
- Internal reports and outside consultants warned that the insurer’s rates were too low to cover escalating wildfire risks.
- In late 2023, State Farm non-renewed 30,000 homeowners or raised premiums on riskier properties.
- The shift helped grow the state-run Fair Plan, which now faces billions in expected claims and potential financial strain.
- Despite the losses in California, State Farm remains financially strong, with over $100 billion in surplus and a national presence.
|
|
Map Shows States With Highest Car Insurance Costs
|
Car insurance premiums increased by 12% nationally in 2025, with Louisiana and Florida topping the list. While Louisiana leads in the percentage of household income spent on insurance, Florida’s premiums are high due to the state’s higher median income. Cities like Miami and Tampa also rank among the most expensive in the U.S.
Key Takeaways:
- National premium increase - Full coverage car insurance costs an average of $2,638, a 12% jump from 2024.
- Louisiana drivers - Residents spend 6.83% of their income on car insurance, the highest percentage in the nation.
- Florida’s premiums - Average premiums are $4,171, but the higher median income reduces the financial burden compared to Louisiana.
- Key risk factors - High vehicle theft, frequent extreme weather events, and insurance fraud in both states drive up costs.
- Top cities - Miami and Tampa are among the most expensive cities for car insurance, with drivers spending up to 6.78% of their income on premiums.
|
|
Who's using what in P&C insurance: February 18, 2025
|
McKenzie Intelligence Services and Duck Creek Technologies are leading the way in enhancing disaster response coordination and streamlining payment solutions. These innovations are pivotal in transforming P&C insurance by improving efficiency and claims handling.
Key Takeaways:
- McKenzie’s collaboration - Partnering with California’s Insurance Emergency Response Association to improve coordination during catastrophic events.
- Duck Creek’s partnership - Working with Worldpay to integrate a more seamless payment system for insurance claims, improving customer experience.
- Tech’s role in underwriting - AI and machine learning are advancing risk assessment and underwriting practices, making them more precise.
- Operational efficiency - New technologies are reducing friction in claims processes and helping insurers provide faster, more accurate service.
- Industry transformation -The digital transformation of the insurance sector is accelerating, shaping the future of P&C insurance services and customer expectations.
|
Check out all things ICT!
|
The Insurance Council of Texas (ICT) is on the lookout for knowledgeable and engaging speakers for our 2025 events! We are looking for experts to discuss industry trends at our upcoming gatherings, including:
- Quarterly ICT Webinar Series
- Workers' Comp Conference: September 15-16, 2025
- P&C Insurance Symposium: September 17-18, 2025, in Austin, TX
We’re seeking speakers to cover critical industry trends, topics such as:
- Emerging topics and innovations
- Legal developments affecting insurance
- AI and technology: challenges and opportunities
- Resiliency strategies for businesses and communities
- Insights on the future of the insurance industry
If you have suggested topics, would like to request a speaker or would like to present at one of ICT's events, click here to let us know.
|
Enjoying this newsletter? Feel free to share it with your colleagues! Just a reminder: The ICT News to Know is a benefit exclusive to ICT members and we ask you not share outside your organization.
|
|
