Insurers Ask Texas Legislators To Consider Mold, Med Mal. (Briefing).Hot insurance topics for the next Texas legislative session include homeowners coverage of mold mold, name for certain multicellular organisms of the various classes of the kingdom Fungi, characteristically having bodies composed of a cottony mycelium. The colors of molds are caused by the spores, which are borne on the mycelium. claims and medical liability insurance.
In what is always viewed as a preview to the new legislative agenda, Speaker of the House Pete Laney James E. "Pete" Laney (1943- ) is a Democratic U.S. political figure from West Texas. He was a member of the Texas House of Representatives for thirty-four years from Hale Center (the seat of Hale County) near Plainview. released a list of "interim charges" or major issues that will be studied by legislative committees in preparation for the next legislative session in 2003.
One industry spokesman hopes the next Legislature will address the state's insurance regulation system. "I hope they look at bringing Texas into the 21st century, in terms of allowing competition in the marketplace pertaining per·tain
intr.v. per·tained, per·tain·ing, per·tains
1. To have reference; relate: evidence that pertains to the accident.
2. to rate filing. Texas is the only state that doesn't does·n't
Contraction of does not. allow companies to compete, because it's so highly regulated" said Jerry Johns, director of the Southwestern Insurance Information Service.
Laney sent four recommendations to the state's House Committee on Insurance. Mold--one of the hottest topics in the state, with 50,000 to 60,000 open mold claims expected by the end of this year--was on the list. Faced with skyrocketing combined ratios and increases in water-related losses, the top three homeowners insurance writers in Texas--State Farm, Farmers and Allstate--placed a moratorium A suspension of activity or an authorized period of delay or waiting. A moratorium is sometimes agreed upon by the interested parties, or it may be authorized or imposed by operation of law. on writing policies that cover water-related claims.
Texas homeowners insurance offers a broader homeowners coverage form that covers accidental accidental /ac·ci·den·tal/ (ak?si-den´t'l)
1. occurring by chance, unexpectedly, or unintentionally.
2. nonessential; not innate or intrinsic. water discharge. The Texas Department of Insurance issued proposals recently that call for endorsements and rule changes that would cap basic coverage for mold at $5,000. Policyholders then could buy additional coverage in amounts equal to 25%, 50% and 100% of policy limits.
This interim charge comes at a time when the insurance industry is waiting for Insurance Commissioner Jose Montemayor to issue his solution to the mold mess in the state.