Hurricane Harvey Flooding Continues to Muddy the Waters

As Texas continues to rebuild in the aftermath of Hurricane Harvey, the extent of the damage Harvey left in its wake is just now being realized. To date, private insurers have seen more than 670,000 property insurance claims resulting from Harvey.[1] The Texas Department of Insurance reports that insurers have paid out more than $4.5 billion in Harvey claims, with the expected number projected to increase to $15.7 billion by the time all claims are reported and settled.[2] Of these claims, more than 354,000 are residential property claims, and around 37,000 are commercial property.[3]

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Texas Department of Insurance Declares Harvey a Catastrophe

As anticipated, on Friday, September 1^st the Texas Department of Insurance issued an order declaring Harvey a catastrophe, thereby extending claims handling deadlines under §542.059 of the Texas Insurance Code. Our simple reference chart reflects the extended deadlines. Click the highlighted link above to access it.

A copy of the TDI’s order can be found here.

Hurricane Harvey – Texas Department of Insurance Bulletins

The Texas Department of Insurance (“TDI”) issued the following bulletins pertaining to Hurricane Harvey on August 26, 2017, many of which apply to property and casualty insurers. They can be accessed by clicking the highlighted links below.

The bulletins most directly relevant to P&C insurers are as follows:

• Premium Payments Grace Period – encourages insurers to suspend (but not forgive) premium payments.
• Recommending Building and Repair Contractors – reminds insurers that homeowners are entitled to have their property repaired by a contractor of their choice.
• Claims Adjusters and Adjusting – reminds insurers that they are authorized to use non-resident and emergency adjusters; that roofing contractors are prohibited from adjusting claims; and that public adjusters must be licensed in Texas.
• Rating and Underwriting – opines that it is inappropriate for insurers to re-rate, cancel, non-renew, or refuse to provide coverage due solely to a policyholder's status as a victim or evacuee of Hurricane Harvey.
• Denial of Wind Losses – encourages insurers who deny coverage for wind losses to inform policyholders of potential coverage under the Texas Windstorm Insurance Association (TWIA) if the loss occurred in the TWIA coverage area.
• Vacancy Provisions - encourages insurers to provide relief to those residents and policyholders who have been temporarily displaced, including the suspension of any vacancy provision in the policy, to allow continuing insurance coverage.
• Credit Scoring and Credit Information – reminds insurers to follow the guidelines of §559.103 of the Texas Insurance Code. 

We will update as additional bulletins are issued. 

Posted by Thomas Cook

TDI Catastrophe Bulletins Issued August 26, 2017

Bulletins Home

2017
Bulletin Number	Date Issued	Reference	Subject
B-0009-17	August 26, 2017	Hurricane Harvey – Premium Payments Grace Period	Property and Casualty
B-0017-17	August 26, 2017	Hurricane Harvey – Recommending Building and Repair Contractors	Property and Casualty
B-0010-17	August 26, 2017	Hurricane Harvey – Medical Equipment and Services	Life and Health
B-0011-17	August 26, 2017	Hurricane Harvey – Claims Adjusting and Adjusters	Financial
B-0012-17	August 26, 2017	Hurricane Harvey – Preauthorized Health Care, Referrals, Notification of Hospital Admissions, and Medical Necessity Reviews	Life and Health
B-0013-17	August 26, 2017	Hurricane Harvey – Commercial Automobile Insurance	Property and Casualty
B-0014-17	August 26, 2017	Hurricane Harvey – Prescription Medication Coverages	Life and Health
B-0015-17	August 26, 2017	Hurricane Harvey – Property and Casualty Rating and Underwriting	Property and Casualty
B-0016-17	August 26, 2017	Hurricane Harvey – Credit Scoring and Credit Information	Property and Casualty
B-0018-17	August 26, 2017	Hurricane Harvey – Denial of Wind Losses	Property and Casualty
B-0019-17	August 26, 2017	Hurricane Harvey – Vacancy Provisions	Property and Casualty