Top Texas P&C News from the Week

News for the week of June 19, 2023


ICT News & Updates

Motor Vehicle Crime Prevention Authority and Insurance Council of Texas Encourage Vehicle Safety Through Statewide "Lock It Down!" Campaign.

Legal Reading 

The Motor Vehicle Crime Prevention Authority (MVCPA) and the Insurance Council of Texas (ICT) have partnered in a statewide awareness campaign to aid in the prevention of vehicle crimes and catalytic converter theft by encouraging Texans to “Lock It Down!” as vehicle-related crimes surge across the state.




Legislative News & Updates

Governor's Veto Blitz: 76 Bills Rejected, Including Key Insurance and Workers' Compensation Reforms

The deadline for the Governor to veto bills is 20 days after the end of the regular session, June 18th. The Governor vetoed 76 bills, the second largest number of vetoes in history (the most being 83 in 2001 by then-Governor Rick Perry). Many of the Governor's veto statements noted that the bill was being vetoed because it was not a priority given the unresolved property tax reforms and would be considered after the legislature passed property tax reform. Three bills ICT was closely watching as significant bills were vetoed:

  • SB 796 (Middleton/Johnson)- Required an arbitration under a surplus lines insurance contract related to a risk located entirely in Texas to be conducted in Texas and to require the insurance contract, including the arbitration agreement, to be interpreted per Texas law. The veto statement noted that SB 796 interfered with freedom of contract and could inadvertently increase premiums and drive out insurers who wanted to do business in Texas.  
  • SB 1393 (Middleton/Paul)- Provided that residential properties 4 miles out of the TWIA cat area who get an offer for coverage through the voluntary market that exceeds 110% of FAIR Plan cost were considered a declination for purposes of eligibility. The veto statement said that SB 1393 would fundamentally change the purpose of the FAIR Plan by making certain homeowners eligible for subsidized FAIR policies even though insurance is available to them on the traditional market.  
  • SB 2269 (Perry/Shine)- Dissolved the Texas self-insurance group guaranty fund and trust fund under the Texas Workers' Compensation Act. The veto statement referenced the property tax issue.  



TDI News & Updates

Get caught up on TDI's most recent blog on how to safely set up and run your portable generator. Be safe this hurricane season! 

If you own a portable generator, remember to place it outdoors at least 20 feet from your home’s doors, windows, or vents.

Keeping a distance helps protect you from carbon monoxide gas, which is colorless, odorless, and potentially deadly.

More generator safety tips:

  • Don’t put fuel in a hot generator. Turn it off and let it cool before refueling. Only put fuel in containers made for fuel. Never store fuel inside your home.
  • Take care of cords. Plug appliances into your generator directly or use a heavy-duty, outdoor-rated extension cord. Check the cord for cuts, tears, or missing prongs.
  • If you want to connect your generator to your house’s wiring, have a qualified electrician do it. Make sure the electrician uses a properly rated switch that meets electrical codes.




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DWC News & Updates

Three Texas companies earn safety awards

The Division of Workers’ Compensation (DWC) announced today that three Texas companies have been recognized with a Lone Star Safety Award for their exemplary workplace health and safety programs and low rates of work-related injuries and illnesses. Among them are the Ocean Spray Cranberries bottling company in Sulphur Springs, the Alamo Structural Steel fabrication and welding plant in Waco, and the Harmon, Inc. curtain wall panel manufacturing facility in Mesquite. Ocean Spray, which employs 135, and Alamo Steel, which employs 85, are first-time recipients of the safety award. Harmon, which employs 99, previously received the safety award in September 2018.




DWC will Host Quarterly Stakeholder Meetings

On Wednesday, June 21, 2023, DWC will hold its quarterly meetings for insurance carriers and health care providers to discuss issues in the Texas workers’ compensation system. The meetings will be held via Zoom. The meeting agendas are on the TDI website.


P&C Industry News & Updates

California agent group says state facing a P&C insurance rate crisis

Insurance News Net

A group representing independent agents say there is a brewing crisis in the California property & casualty market over rates and the delays getting hikes approved.

Insurance Commissioner Ricardo Lara hosted a webinar with disaffected agents Tuesday but they came away far from mollified by his answers. Agents are experiencing "great difficulty" placing auto and home insurance as insurer "appetite is disappearing with disturbing acceleration," according to the American Agents Alliance.



Tropical Storm Bret could strengthen to first hurricane of 2023


Warmer-than-average water in the Atlantic Ocean could lead to current Tropical Storm Bret strengthening to become the first hurricane of the 2023 season.

As of 5 a.m. EST Tuesday morning, the National Hurricane Center (NHC) reported the storm system was over the Atlantic Ocean, about halfway between the Lesser Antilles and western Africa, and maximum sustained winds hovered around 40 mph. The Lesser Antilles are an arc of islands in the Caribbean Sea – including Antiqua and Barbuda, the British Virgin Islands, Saint Lucia, and Barbados – that stretch from the Virgin Islands south to Trinidad and Tobago.


Property & Casualty Insurance Agency Management Software Market Growth Powered with Latest Development Scenario

The Reedly Exponent 

The Property & Casualty Insurance Agency Management Software Market report signifies gathered information about a market within an industry or various industries. The Property & Casualty Insurance Agency Management Software Market report includes analysis in terms of both quantitative and qualitative data with a forecast period of the report covering from 2023 to 2029. The report is prepared to take into consideration various factors such as Product pricing, Product or services penetration both country and regional levels, the market dynamics of parent market and child markets, End application industries, major players, consumer buying behaviour, economic, political, social scenarios of countries, many others. The report is separated into various segments to offer a detailed analysis of the market from every possible aspect of the market.




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