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For more Texas-related P&C insurance information and news, visit the ICT website
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Speaker Burrows Seeks Input on Interim Charges
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Speaker Dustin Burrows has asked House committee chairs to submit recommendations for interim charges by close of business on Feb. 9.
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Governor Abbott Appoints Crawford as Commissioner of Insurance
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Gov. Greg Abbott has appointed Amanda Crawford as Texas commissioner of insurance for a term that expires Feb. 1, 2027. The appointment follows a Jan. 6 announcement that Commissioner Cassie Brown will retire Feb. 2 after more than four years leading the Texas Department of Insurance.
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Crawford is executive director of the Texas Department of Information Resources and the state’s chief information officer. She previously served as deputy attorney general for administration and general counsel at the Texas attorney general’s office.
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“On behalf of the Insurance Council of Texas, I congratulate Commissioner Crawford on her appointment,” said Albert Betts, ICT’s executive director. “We look forward to working with her and the Texas Department of Insurance to support a strong, competitive insurance market. We also extend our sincere thanks to Commissioner Brown for her years of dedicated public service and leadership.”
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TDI Approves Updates to TAIPA Plan of Operation
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The Texas Department of Insurance has approved amendments to the Texas Automobile Insurance Plan Association’s (TAIPA) plan of operation. The proposed amendments were approved by the TAIPA Governing Committee on Aug. 1, 2025. Under state law, the committee is authorized to adopt and amend the plan of operation, subject to the commissioner’s approval. The changes reflect several months of collaboration with TDI staff, who helped initiate and shape a number of the updates.
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TAIPA filed the amendments with TDI in October 2025, and the proposal was subject to a public comment period that closed Dec. 12, 2025. No comments were received. In approving the amendments, the commissioner determined that the changes are consistent with statutory requirements to ensure TAIPA is administered in an efficient, economical, fair and nondiscriminatory manner.
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The order can be found here.
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Meet the Regulator Meeting Has Been Rescheduled
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The in-person Meet the Regulator event has been rescheduled for Friday, Feb. 20, from 9 to 11:30 a.m.
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The event will begin with an agency update in the Barbara Jordan Building, Conference Room 2.034.
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No RSVP is required.
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Attendees will have the opportunity to meet with Texas Department of Insurance deputy commissioners and staff from the Property and Casualty, Life and Health, Consumer Protection and Financial Regulation divisions.
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TDI Finalizes Unearned Premium Refund Rule for Personal Auto and Residential Property Policies
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The Texas Department of Insurance adopted amendments to 28 TAC § 5.7015 to align the rule with state law governing unearned premium refunds for personal automobile and residential property insurance policies. The amendments require insurers to calculate unearned premium refunds on a pro rata basis when a policy is canceled before its expiration, effectively prohibiting the use of short-rate provisions that allow insurers to retain a portion of unearned premium.
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ICT submitted comments on the proposed amendments in September 2025. The final rule reflects revisions made in response to public comments, including those submitted by ICT, and differs in several respects from the proposed version.
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Notably, TDI clarified that insurers may retain a minimum earned premium to cover unrecoverable policy issuance expenses, provided the amount and justification are included in required rate or rule filings. The department also confirmed that the rule applies only to premiums, not to fees or surcharges. TDI extended the implementation date to Sept. 1, 2026, giving insurers additional time to make necessary operational updates.
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The adopted rule is available on TDI’s website.
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Abbott Names Crawford Texas Insurance Commissioner
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Texas Gov. Greg Abbott has appointed Amanda Crawford as commissioner of insurance, succeeding Cassie Brown, who retired after more than four years leading the Texas Department of Insurance. Crawford, whose term runs through Feb. 1, 2027, assumes oversight of the $293 billion Texas insurance market, the second largest in the nation. Industry leaders said the appointment brings deep regulatory, legal and technology experience to a department navigating ongoing property, auto and catastrophe-driven market challenges.
Key points
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New leadership at TDI:Â Crawford replaces Cassie Brown, who oversaw the department through periods of insurer insolvencies, property insurance volatility and heightened consumer education efforts.
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Extensive government and legal experience: Crawford currently serves as executive director of the Department of Information Resources and Texas’ chief information officer, and previously held senior leadership roles at the Texas Office of the Attorney General.
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Oversight of a massive insurance market: As commissioner, Crawford will regulate the nation’s second-largest insurance market, which includes more than 3,400 insurers and 875,000 licensed agents and adjusters.
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Industry signals support and collaboration: Albert Betts, executive director of the Insurance Council of Texas, congratulated Crawford, saying the organization looks forward to working with her to support “a strong, competitive insurance market.”
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Technology and modernization implications: Crawford’s background in information systems and cybersecurity positions the department to advance regulatory modernization, data security and operational efficiency at TDI.
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Texas Insurance Commissioner Brown Retiring
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Texas Insurance Commissioner Cassie Brown will retire Feb. 2 after more than four years overseeing the $293 billion Texas insurance market, the second largest in the United States. During her tenure, Brown led regulation of more than 3,400 insurance companies and the licensing of 875,000 agents and adjusters, guiding the market through insurer insolvencies, property insurance volatility and heightened consumer protection challenges. Industry leaders, including the Insurance Council of Texas, credited Brown with maintaining a competitive, stable regulatory environment while prioritizing consumer education and market access.
Key points
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Oversight of a massive insurance market: As commissioner, Brown regulated the nation’s second-largest insurance market, balancing consumer protection with market stability across thousands of insurers and hundreds of thousands of licensed professionals.
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Focus on consumer education and market access:Â TDI said Brown emphasized educating Texans on coverage, claims and fraud prevention while working to preserve insurance availability amid market disruptions.
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Leadership during property market strain:Â Brown oversaw windstorm and property insurance challenges, including insurer insolvencies and tightening capacity, particularly along the Texas coast.
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Industry recognition for fairness and stability: Albert Betts, executive director of the Insurance Council of Texas, praised Brown’s leadership, saying, “We appreciate all she has done for the Texas insurance market to maintain a strong and competitive marketplace and her sincere belief in doing what she believed was best for consumers and companies. The insurance commissioner has a tough job, and she approached it with enthusiasm and a sense of fairness.”
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Legacy of regulatory continuity and collaboration: Industry leaders said Brown’s tenure helped reinforce regulatory consistency and open communication between regulators, insurers and consumers, providing stability during periods of elevated catastrophe risk and market stress.
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Early Bird Registration for the 2026 TX Workers’ Comp Conference Ends Feb. 28!
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Registration is now open for the 2026 ICT Workers’ Comp Conference on April 23, 2026 in Austin, TX!
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Join us for the must-attend event for Texas workers’ compensation professionals! Connect with top attorneys, insurance providers, and healthcare experts as they share cutting-edge insights on the latest trends, legal developments, and best practices shaping the industry.Â
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This conference is your opportunity to:Â
- Learn from industry leaders and gain practical strategies to navigate the complexities of the Texas workers’ compensation system.
- Network with peers and key decision-makers from across the field.
- Earn valuable continuing education credits while expanding your professional expertise (approval pending).Â
Accommodations: Stay at the stylish Aloft Southwest Austin for just $194 per night. Be sure to reserve your room by March 23, 2026, to secure your spot!Â
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 Industry News:Â
Nearly Half of 100 Largest P/C Insurers Destroy Value: ACORD
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“Sustainable value creators” among the 100 largest U.S. property/casualty insurers generated more than twice as much value from underwriting as from investments over a 20-year period, according to ACORD’s 2025 U.S. Property & Casualty Value Creation Study. While just over half of carriers created value overall, the analysis found a growing divide between insurers with durable underwriting performance and those relying heavily on investment income, with nearly half of large carriers now classified as value destroyers. The findings highlight underwriting, claims efficiency and customer lifetime value as the primary drivers of long-term competitiveness.
Key points:
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Underwriting, not investments, drives sustainable value: Sustainable value creators generated $229 billion from underwriting versus $95 billion from investments, producing a 13.5% return on capital over 20 years and far outperforming peers dependent on market returns.
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Nearly half of large insurers destroyed value: The study found 48 of the 100 largest carriers failed to exceed the cost of capital, up from 36 three years ago and just nine in a comparable 2021 study, signaling rising structural pressure in the industry.
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Scale is becoming an advantage again: Insurers writing more than $6 billion in premiums were significantly more likely to be sustainable value creators, suggesting that scale now delivers informational and analytical advantages rather than just operational efficiency.
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Loss and expense discipline separates winners from laggards: Sustainable value creators posted materially lower loss ratios (70.2) and expense ratios (24.3) than hollow value creators and value destroyers, driven largely by tighter acquisition costs and lower back-office expenses.
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Winning carriers execute across multiple strategic pillars: ACORD identified underwriting precision, technology-enabled claims management and customer lifetime value optimization as key “value levers,” concluding that insurers must now execute across customer intimacy, product leadership, innovation and operational excellence to sustain long-term performance.
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Surge of Supercharged Hurricanes Prompt Call for Cat 6 Classification
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Scientists say rising ocean temperatures—extending far below the surface—are driving a surge in exceptionally powerful hurricanes and typhoons that exceed today’s highest classification, according to new research presented at the American Geophysical Union’s 2025 annual meeting. Expanding deep-ocean heat “hot spots” in the Caribbean, Gulf of Mexico and Western Pacific are increasing the likelihood of storms with winds stronger than Category 5, leading researchers to propose a new Category 6 designation to better reflect modern storm risk. The findings underscore how human-caused climate change is reshaping tropical cyclone behavior and elevating threats to densely populated coastlines.
Key points
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Deep ocean warming is supercharging storms: Researchers found that unusually warm water extending far below the ocean surface prevents storms from weakening, allowing hurricanes and typhoons to intensify beyond traditional Category 5 limits.
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Climate change is a primary driver: Human-caused warming accounts for an estimated 60%–70% of the expansion of storm-forming ocean hot spots, significantly increasing the odds of ultra-intense tropical cyclones.
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Calls grow for a new Category 6: Scientists propose classifying storms with sustained winds exceeding 160 knots as Category 6, arguing the current scale no longer captures the severity of the strongest systems.
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Extreme storms are becoming more frequent: Eighteen storms meeting Category 6 criteria have occurred over the past 40 years, with more than half forming in just the last decade, signaling an accelerating trend.
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High-risk regions are expanding: The most dangerous storm hot spots are growing in the Western Pacific near the Philippines and the North Atlantic near the Caribbean, Florida and the Gulf, increasing landfall risks for major population centers.
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P&C Market Enters Correction Phase With Significant Rate Relief and Emerging Challenges
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The U.S. property and casualty insurance market enters 2026 at an inflection point, with meaningful rate relief emerging on the property side while casualty lines continue to face persistent profitability challenges driven by social inflation and emerging risks. According to USI Insurance Services’ 2026 market outlook, abundant reinsurance capacity and a relatively calm 2025 catastrophe year are reshaping competitive dynamics—creating opportunities for buyers in some lines and heightened underwriting discipline in others.
Key points:
- Property rates are easing as capacity returns: An influx of reinsurance capital and lower-than-expected catastrophe losses in 2025 are driving meaningful rate relief across property programs, with many buyers securing double-digit reductions.
- Casualty lines remain uneven: While workers’ compensation continues to outperform with sustained profitability, commercial auto liability is under pressure as claim severity has more than doubled since 2015, producing ongoing underwriting losses.
- Social inflation is the dominant cost driver: Larger jury verdicts and settlements are pushing liability claim costs higher across auto, umbrella, employment practices and general liability lines, reducing predictability for insurers.
- Emerging risks are reshaping coverage: Insurers are tightening terms and introducing exclusions as new exposures—such as PFAS contamination, cyber-physical attacks, and artificial intelligence liability—complicate underwriting.
- Buyers face a mixed 2026 market: Commercial insurance buyers may benefit from improved property pricing and capacity, but higher-risk casualty exposures continue to face elevated rates and stricter underwriting scrutiny.
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