September 2020

Texas Surplus Line Reporter

We are insurance industry professionals working
and writing about this business for over 40 years.

Articles

Independent Actuary Finds TWIA’s 2021 Rates Deficient

Independent Actuary Finds TWIA’s 2021 Rates Deficient

On Sept. 4, Willis Towers Watson reported its independent evaluation of rates and catastrophe models for the Texas Windstorm Insurance Association, finding the rates deficient for 2021. The numbers come in not quite as deficient as TWIA’s internal actuaries predicted...

Hurricane Laura’s Losses Estimated at $4B to $15B

Hurricane Laura’s Losses Estimated at $4B to $15B

Early estimates of onshore property damage from Hurricane Laura by various modelers range from about $4 billion to $12 billion. Those estimates came in from CoreLogic, Karen Clark and Company and AIR. Several days later, risk modeler RMS estimated that onshore and...

Commissioner Kent Sullivan Announces His Resignation

Commissioner Kent Sullivan Announces His Resignation

On Aug. 18, Kent Sullivan announced his resignation as Texas Commissioner of Insurance. He remains in this role through September. Sullivan became commissioner in October 2017 shortly after Hurricane Harvey’s catastrophic impact on the state. During his three…

Insurance Serves Policyholders When There is ‘No More’

Insurance Serves Policyholders When There is ‘No More’

By MICHAEL G. MANESManes and AssociatesToday is September 11, 2020 – the 19th anniversary of what we now call – 9 /11. The TV is playing in the background, reliving the terror of that day. It is the tragedy– no matter where you lived–that reshaped our world. We will...

Drew Brown Installed as President of IIAD for 2020-2021

Drew Brown Installed as President of IIAD for 2020-2021

Drew G. Brown, co-president and chief operating officer of TexCap Insurance, became president of the Independent Insurance Agents of Dallas during a Zoom meeting and installation ceremony on Aug. 19. From the outset, Brown has found virtue in the virtual.With fewer...

Fake Navy SEAL Invents Beirut Heroics, Steals Disability

Fake Navy SEAL Invents Beirut Heroics, Steals Disability

Claimed PTSD and Silver Star, Yet Never Served in Military by JIM QUIGGLE What a hero, Richard Meleski bleated about his harrowing exploits as a Navy SEAL during a covert operation in Beirut, Lebanon.“Eighteen-hour hostile takeover. Became POW, during this tour....

News In Brief

People

People

Stonetrust Commercial Insurance Company has announced the hiring of Jeff Skaggs as senior vice president of underwriting and marketing; Dawn Boniol as manager of compliance, quality control and claims support, and Richard Perkins as loss prevention outreach...

Meetings & Education

Meetings & Education

The Federation of Insurance Women of Texas has moved its 76th Annual Convention to a virtual event, Oct. 20-24. Sessions will offer four hours of continuing education credit and classes are open to all. Fees to attend the C.E. classes are $25 for members, $35 for...

Fundraiser

Fundraiser

The Independent Insurance Agents of Houston will host its
Second Annual
Fishin’ with a Mission Tournament
on Oct. 29 through Oct. 31. Tournament headquarters is the Beachfront Pavilion in Rockport.

NIAC

NIAC

Longtime insurance consumer advocate Birny Birnbaum proposed a model law to the National Association of Insurance Commissioners during an online meeting of the Consumer Liaison Committee. Birnbaum’s proposal would define fair and unfair discrimination in insurance;...

Flood Coverage

Flood Coverage

After Hurricane Harvey inundated Southeast Texas, the number of flood insurance policies in the Corpus Christi area increased. But new federal data shows those gains are eroding. Nearly all Corpus Christi-area counties have fewer federal flood policies in place than...

TDI

TDI

The Texas Department of Insurance is circulating an informal working draft of a new rule on pet insurance that will classify pet insurance as inland marine insurance and allow insurers to sell it through individual or group policies.The change would designate pet...