The
THE VOICE OF TEXAS INSURANCE RE C O R D INSURANCE
Published Since 1934 • Dallas, Texas March 11, 2010 • Vol. 76 No. 5
AUSTIN—For the second year in a row Texas has experienced weather catastrophes amounting to more insured losses than any other state. In 2009, Texas experienced 10 weather catastrophes that caused nearly $2.5 billion in losses. The next nearest state last year in insured losses was Colorado with $1.3 billion in losses.
In 2008, Texas had 11 catastrophic events and $10.2 billion in losses, which was $8 billion more than Louisiana that was next with $2.2 billion in losses.
Gary Kearney, vice president of Property Claim Services
that calculates the losses each year, said Texas had lots of
hail, tornados and wind events last year. In 2008, it was
hurricanes. “No other state has even come close to all of the
weather catastrophes and insured losses that Texas has gone
through over the last two years,” Kearney said.
A weather catastrophe is an event which causes $25 million or more in insured losses and affects a significant number of insurance companies and policyholders.
“Texas has been pounded over the last two years with just about every weather event Mother Nature that can throw at us,” said Mark Hanna, a spokesman for the Insurance Council of Texas. “In 2008, it was Hurricanes Ike and Dolly. Last year it was tornadoes and hail. Already this continued on page 13
In This Issue
TDI Promulgates January enforcement Actions
3
HOUS TON/DALLAS—Bassey Monday Idiong, Linda Eteimo Ere Kendabie, and Modupe Babanumi each pleaded guilty in connection with their roles in an “arthritis kit” Medicare fraud scheme, announced Assistant Attorney General Lanny A. Breuer of the Criminal Division; U.S. Attorney José Angel Moreno of the Southern District of Texas; Richard C. Powers, Special Agent-in-Charge of the FBI’s Houston office; and Special Agent-in-Charge Mike Fields of the Dallas Regional Office of the Department of Health and Human Services (HHS), Office of Inspector General (OIG), Office of Investigations.
Companies hungry for Business in Fourth Quarter
5
TLR Cites Representative Orr as Lawsuit Abuse Fighter
6
Chilean earthquake: Billions In Losses expected
8
Soft Market Continues Mostly for All But NOT for Coastal Property 10
continued on page 12
Idiong, 30, was the owner of B.I. Medical Supply LLC, a Houston-area durable
PCI Reassures Toyota Owners Regarding Insurance Coverage
11
SELLING STRATEGIES:
Sell Like a hospital
12
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CAA Reports Record Premium & Revenue Growth in 2009 14
Rep. Mike Ross Named Big “I” Legislator of the Year
15
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