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House State Affairs and House Insurance Interim Reports Released
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On Jan. 10, the House Insurance and House State Affairs committees released their interim reports to the 89th Texas Legislature. Historically, interim reports sometimes lead to specific legislation but often do not.
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This interim period was particularly complicated regarding insurance, as the committee that typically has jurisdiction—the Insurance Committee—received no interim charges to consider. Instead, interim charges directly related to insurance went to the House State Affairs Committee. The House rules for this session keep property and casualty insurance issues under the Insurance Committee’s jurisdiction, but the committee’s membership is also likely to change significantly.
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A recap of the reports is available on the ICT Info Hub.
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Patrick is expected to release bills 26 through 40 soon. The press release with the full list can be found here.
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Lt. Governor Outlines First Round of Top 40 Priority Bills for the Legislative Session
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Lt. Gov. Dan Patrick released the first 25 of his 40 priority bills for the legislative session on Jan. 29. Low bill numbers are usually reserved for priority items to signify their importance. In the past, bill numbers 1-20 were reserved, with Patrick increasing the priority bills to 30 last year and 40 this year.
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The top two priority bills are Senate Bill 1, which addresses the state budget, and Senate Bill 2, which proposes a voucher-like education savings account program. The budget is the one bill that legislators must pass during the regular session.
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Other priorities include increasing the reliability of the Texas electric grid and investing in the state’s water supply. Most legislation on the list has not yet been filed, and the only details available were informal titles for each bill. This includes Senate Bill 14 (Texas DOGE – Improving Government Efficiency), Senate Bill 15 (Removing Barriers to Affordable Housing), Senate Bill 18 (Stopping Drag Time Story Hour), Senate Bill 19 (Stopping Taxpayer Dollars for Lobbyists), and Senate Bill 24 (Educating Texas Students on the Horrors of Communism). Patrick is anticipated to release bills 26 through 40 soon. The press release with the full list can be found here.Â
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ICT Co Hosts Insurance 101
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On Jan. 30, ICT, in partnership with the Texas Association of Life and Health Insurers (TALHI), the Independent Insurance Agents of Texas (IIAT), and NAIFA Texas, hosted an Insurance 101 briefing and breakfast at the Capitol for legislators and their staff. The session provided a comprehensive overview of property and casualty, life, and accident and health insurance in Texas, presented from both company and agent perspectives.
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More than 60 legislative staffers attended, along with a few state representatives. ICT will follow up with these offices to reinforce the information shared.
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New Member Spotlight:
Johnson Dispute Resolution
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ICT in the News: Spotlighting the industry’s next generation of leaders
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Insurance Council of Texas Supports 2025 Insurance Business America’s Rising Stars
ICT is proud to support Insurance Business America’s Rising Stars 2025, recognizing young professionals making an impact in the insurance industry. This annual ranking highlights future leaders and provides them with opportunities to enhance their careers.
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Key Details:
- Open to professionals 40 or younger as of July 1, 2025.
- Candidates must work in a role that impacts the U.S. insurance industry.
- Winners will be chosen by an independent advisory panel.
- The final list will be published in July 2025.
- Entries close on March 7, 2025 – Apply here
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US economic losses from natural disasters soared in 2024, even as they eased globally
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In 2024, economic losses from natural disasters in the U.S. surged to $217.8 billion—an 85.3% increase from 2023—driven by major hurricanes, severe storms, and droughts. While global losses declined slightly, they remained above historical averages.
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Key points:
- Hurricanes Helene and Milton caused $100 billion in combined economic losses, primarily from flooding.
- U.S. insured losses rose 36% to $112.7 billion, the highest since 2022.
- Global economic losses from natural disasters totaled $368 billion, 14% above the 21st-century average.
- Severe storms, droughts, and additional hurricanes further contributed to U.S. losses.
- Early 2025 wildfires in Los Angeles County are projected to be among the costliest in history.
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Private firefighters are increasingly popular with insurers. But do they pose a risk?
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Private firefighting companies, like Capstone Fire and Safety Management, are increasingly being hired by insurers to protect homes from wildfires in high-risk areas. As California faces more frequent and severe fires, the rise of private fire services has sparked debate over regulation, effectiveness, and equity in disaster response.
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Key Points:
- Insurer-Funded Protection – Insurance companies, including State Farm and Pure Insurance, contract private firefighters to safeguard homes before wildfires arrive.
- Fire Prevention Tactics – Crews take proactive steps like closing windows, moving flammable objects, and applying fire-protective gel to homes.
- Regulatory Challenges – A 2018 California law requires private firefighters to check in with public agencies, but they operate with limited communication and oversight.
- Equity Concerns – Critics argue private firefighting creates a two-tiered system where wealthy homeowners receive better protection than the general public.
- Future Growth – As wildfire threats increase, insurers view private fire defense as a cost-effective strategy, but concerns about coordination and liability remain.
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Florida could see an 89% increase in home insurance rates thanks to climate change
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Homeowners across the U.S. are facing rising insurance costs due to climate change, with premiums projected to increase by an average of 25% over the next 30 years. A new report from First Street highlights how these rising costs, coupled with extreme weather risks, are driving down property values in high-risk areas.
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Key Points:
- In Florida, insurance costs for an average home could rise by 89%, with Miami homeowners potentially seeing a 322% increase.
- Home values in high-risk areas are expected to decline, with Florida homes losing an estimated 29% of their value by the 2050s.
- Around 21,000 communities are classified as “climate abandonment neighborhoods,” where rising insurance costs and climate risks may lead to population decline.
- Nationally, insurance premiums have already grown by 115% in the past decade due to insurers' rising losses from disasters.
- Climate risk awareness is influencing real estate decisions, with 80% of homebuyers considering at least one climate risk when searching for a home.
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Check out all things ICT!
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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:Â September 15-16, 2025
- P&C Insurance Symposium:Â September 17-18, 2025, in Austin, TX
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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.
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