State Farm Insurance refund case delayed again

 AUSTIN — State Farm Insurance’s $350 million overcharge case was delayed again Wednesday when, for the second time in six months, a state judge had to pull out of the case because she is a policyholder of the company and could be in line for a refund.

Stutz: http://dallasne.ws/flA3os

Fight over Texas homeowner insurance rates to resume

 AUSTIN — Seven and a half years after State Farm Insurance was first cited by Texas officials for excessive homeowners rates, the legal battle resumes this week — with hundreds of millions of dollars and perhaps the future of the state’s regulatory system in the balance. The Texas Department of Insurance will try to convince a judge that the state’s largest insurer owes its policyholders at least $310 million plus interest for overcharges. The state’s public insurance counsel maintains that the figure is closer to $1 billion.

Stutz: http://dallasne.ws/gk9C2C

Texas agency says new health care law will help families get coverage

Even as Texas leaders rail against the national health care law and call for its repeal, the state Department of Insurance has issued a report that says the law will make it easier for many Texas families to get health coverage. The report also helps make the case that the current system is not working, as the number of Texans with health coverage through their employers has dropped nearly 18 percent in the last eight years.

More on this story

Stutz: http://dallasne.ws/f1A1Lw

2 Texas auto insurers top complaints list, face investigation

Stutz reports:

Loya is one of two large auto insurers that had a complaint record well above the state average in 2009, according to a new listing of “justified” complaints handled by the state Insurance Department.


Those complaints from Texas drivers included such practices as delays in processing claims, unsatisfactory offers or settlements, denial of claims and liability disputes.
http://tinyurl.com/2al9oyh

The 10 worst in Texas: http://tinyurl.com/27ntyac

State Farm stiff-arms Texas regulators, but insurer says it's protecting clients

Stutz reports:

AUSTIN – To leading lawmakers and even some insurance industry experts, State Farm hasn't exactly been like a good neighbor in recent dealings with state regulators.


The state's largest property insurer shows no sign of compromising on its marathon legal battle over the state's ruling that it overcharged homeowners hundreds of millions of dollars.

Most Texas home insurers profitable again

Stutz reports:

AUSTIN – Texas home insurers returned to profitability in 2009, as property claims were nearly half of those lodged as a result of Hurricane Ike the previous year.

New financial reports released Monday by the Texas Department of Insurance indicated that most companies had a solid year, if not a banner one, thanks to the lack of any major weather catastrophes across the state.

Here's an overview
HOW BIG HOME INSURERS FARED LAST YEAR IN TEXAS

Loss ratios of leading Texas home insurers for 2009, in order of the companies' market share:

1. State Farm Lloyds: 72.9 percent
2. Allstate Lloyds: 72.4 percent
3. Texas Farmers: 47.9 percent
4. USAA: 61.9 percent
5. Travelers Lloyds: 63.9 percent
6. USAA Lloyds: 62.4 percent
7. Allstate Fire and Casualty: 79.9 percent
8. Nationwide: 77.3 percent
9. Chubb: 58.3 percent
10. Fire Insurance Exchange: 62.3 percent
11. Texas Farm Bureau: 86.3 percent
12. Nationwide Lloyds: 72 percent
13. Statewide average: 67.3 percent

NOTE: Some companies use multiple subsidiaries to sell policies.

SOURCE: Texas Department of Insurance

State Farm sues Texas over Web posting of its rate hike requests

State Farm takes legal exception to the Texas Department of Insurance's posting of rate hikes, other information. Stutz reports:

AUSTIN – An unprecedented move by the Texas Department of Insurance to publicize recent rate hikes by State Farm Insurance sparked a legal challenge from the company Tuesday over what it said was confidential information.

Joint statement from Representatives Coleman, Dunnam, Farrar, and Gallego on the State Farm lawsuit.
http://www.scribd.com/doc/29244143/Statement-on-State-Farms-Suit-Against-TDI

Democratic House members blame GOP leaders for rising insurance costs

Second State Farm rate hike in 7 months prompts letter. Hoppe reports:

Five leaders of the Texas House Democratic caucus signed a letter calling for an overhaul of state insurance regulation on the heels of State Farm's second homeowners rate hike in seven months.


The five believe the Texas Department of Insurance needs to be given the power to counter insurance companies that raise their premiums excessive and unjustifiable levels. Since 2003, insurance companies have operated under a file-and-use system, whereby they file their new rates and use them until the state determines if they're fair or not. If the state thinks they're excessive, it's supposed to order a rebate to consumers.