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Insurers haven’t announced concrete steps – yet. -
The impact could also raise home-building costs by $10,000 per unit.
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The Lone Star State has seen rapidly increasing rates in recent years.
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The agency cited SiriusPoint’s recent management moves including lower cat exposure as a driver of the change.
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A first-of-its-kind resolution adopted this week says subrogation can reduce insurance costs.
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The carrier forecasts stable profits, but tariffs are creating “high uncertainty”.
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The law imposes limits on third-party litigation funding, among other changes.
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The BRIC program helped fund local resiliency programs, which can reduce loss costs.
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Howard and Moore were among a group to receive letters over links to prior insurance insolvencies.
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The suit seeks to block insurers from passing through assessment costs.
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A one-time impact would be a mid-single digit increase to physical injury auto severity.
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The release followed the filing of an updated Plan of Operation.
