Texas Insurance Market: Good Things are Happening!

As we have been highlighting, despite having some of the most severe weather exposure in the country - demonstrated by five times more claims losses last year than any other state - sound policies and a relatively stable regulatory environment have allowed the Texas insurance marketplace to remain healthy and competitive. Just a few of the recent success stories...

Competition is Working — Auto rates are down 14%: Increased competition among insurance companies has caused a drop in Texas insurance rates, according to a recent study. The report found that Texas insurance rates have dropped 14 percent since January. More.

Jobs and Economic Growth — Nationwide to add 750 jobs in San Antonio: Last month, Nationwide Mutual Insurance Co. announced it is expanding its operations in San Antonio. The move will help to create 750 high-paying jobs and generate more than $94.8 million in capital investment in Texas. More.

Customer Satisfaction Soars — Recent report found that overall customer satisfaction with homeowners insurance surged an "unprecedented" 21 points: The insurance industry is being impressive on pricing at a time when so many others are not," said Jeremy Bowler, senior director of J.D. Power's insurance practice...Most of the increase was driven by customer satisfaction with the price they were being charged, which rose 46 points on the same 1,000 point scale. More.

Follow TCAIS On Twitter

TCAIS is now on Twitter. In addition to our website, and e-mail newsletters, you can now stay up to date on the Texas property and casualty marketplace by following us on Twitter at www.twitter.com/TCAIS.  In addition to important articles and relevant facts and figures, tweets will include stories you may have missed including a recent article that highlighted a behavioral economic study on golf and cheating that found insurance agents to be the most honest people...Surprised? You wouldn't be if you follow our tweets!

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