Insurers Have Paid Nearly $1.7B Property, Auto Claims from Texas Winter Storm

Insurers Have Paid Nearly $1.7B Property, Auto Claims from Texas Winter Storm

2021-04-20 00:40:20
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At the end of March, Texas policyholders had filed 386,108 property and auto insurance claims related to the winter storm that engulfed the state in mid-February.

That number mirrors the preliminary results of a Feb. 26 data call to property and auto insurers by the Texas Department of Insurance seeking information on claims stemming from the storm that hit the state Feb. 11-19.

TDI released a report, Winter Storm Survey Data Industry Aggregate Results for Texas in February 2021, which shows information on insurer-reported claims as of March 26.

The report is based on data submitted by 85% of the state property insurance market and 94% of the auto insurance market. It shows that insurers paid out $ 1,673.9 billion on 186,982 combined residential, commercial property, and auto insurance claims.

At the end of March, residential receivables accounted for the bulk of reported (341,679) and paid (169,434) receivables. The median home loss is $ 6,594.

24,788 commercial property claims have been reported, of which 8,035 have been paid. The data shows that the average commercial real estate loss is $ 49,712.

Reported auto insurance claims, both personal and business, totaled 19,641, of which 9,513 were paid. According to the TDI report, 18,860 personal car claims and 781 commercial car claims have been reported. The average loss for personal car is $ 2,942 and the average for commercial car claims is $ 7,302.

TDI clarified in its report that “Claims reported are claims reported to the insurer. For this data call, insurers use their own definition of what a single & # 39; claim & # 39; is. In this case, one claim could mean a single policy that generated a claim, a single piece of property that generated a claim, a single coverage policy that generated a claim, or some other definition. "

The data call is underway. Subsequent reports are due monthly, at the end of each month, TDI said.

Homeowners / Farmers Multiperil Companies with Large Concentrations in Texas
Ranked by 2019 Texas Homeowners / Farmers Multiperil DPW as% of Total Business Homeowners / Farmers DPW
(Minimum 50% share of the company's DPW, consisting of Texas homeowners / farmers DPW)
($ thousands)
AMB # Company Name Texas U.S Texas% of the US.
001767 State Farm Lloyds 1,900,767 1,900,767 100.0
003312 Texas Farmers Insurance Company 855,383 855,383 100.0
010678 Allstate Texas Lloyd & # 39; s 325,343 325,343 100.0
004359 Texas Farm Bureau Underwriters 263,150 263,150 100.0
000892 Texas Farm Bureau Mutual Insurance Co 201,011 201,011 100.0
003566 Chubb Lloyds Insurance Company of Texas 177,746 177,746 100.0
001753 Especially Lloyds of Texas 86,139 86,139 100.0
001743 Travelers Lloyds of Texas Insurance Co 85,095 85,095 100.0
011417 Metropolitan Lloyds Ins Co of Texas 76,479 76,479 100.0
012703 Texas FAIR Plan Association 53,217 53,217 100.0
012339 Auto Club Indemnity Company 142,033 142,056 100.0
012421 ASI Lloyds 227,903 243,342 93.7
013125 Homeowners of America Insurance Co 149,755 168,858 88.7
022605 Allied Trust Insurance Company 69,850 87,797 79.6
010681 State National Insurance Company, Inc. 65,851 90,595 72.7
003333 Meridian Security Insurer 118,670 169,992 69.8
003652 Allstate Fire and Casualty Insurance Co 118,054 193,154 61.1
022327 Clear Blue Insurance Company 87,876 147,163 59.7
012053 Safeco Insurance Company of Indiana 314,609 594,007 53.0
022321 Spinnaker Insurance Company 102,536 196,131 52.3
Source: AM Best data and research
Commercial Multiperil Property Insurers with Large Concentrations in Texas
Ranked by 2019 Texas CMP Property DPW as% of Total Company CMP Property DPW
(Minimum 50% share of the company's DPW, consisting of Texas CMP Multiperil DPW)
($ thousands)
AMB # Company Name Texas U.S Texas% of the US.
001767 State Farm Lloyds 70,626 70,626 100.0
001734 The Hanover Casualty Company 29,003 29,003 100.0
002614 Hartford Lloyd & # 39; s Insurance Company 22,611 22,611 100.0
012570 Insurers Indemnification Lloyds 9,097 9,097 100.0
003297 Travelers Lloyds Insurance Company 8,926 8,926 100.0
012318 Utica Lloyd & # 39; s from Texas 8,375 8,375 100.0
003817 Hochheim Prairie Casualty Insurance Co 5,073 5,073 100.0
001709 American modern Lloyds insurance company 4.010 4.010 100.0
001876 Union Standard Lloyds 1442 1442 100.0
001775 United Fire Lloyds 1.147 1.147 100.0
011021 Samsung F&M Insurance Co., Ltd USB 1,685 2.061 81.8
022328 Clear Blue Specialty Insurance Company 1,774 2,490 71.2
012472 ANPAC Louisiana Insurance Company 2,278 3,346 68.1
002422 Republic Underwriters Insurance Company 2,886 4,850 59.5
010611 Underwriting insurance company 9,663 16,412 58.9
011783 American Property Insurance Company 1,250 2,146 58.2
Source: AM Best data and research
Auto-damage insurers fully concentrated in Texas
100% from 2019 Auto Physical Damage DPW in Texas
(Minimum $ 10 Million in 2019 Texas Auto Physical Damage DPW)
($ thousands)
AMB # Company Name Texas
003690 Progressive County Mutual Insurance Co 1,541,401
022059 GEICO County Mutual Insurance Company 998,243
004097 Farmers Texas County Mutual Insurance Co 626,143
012569 Liberty County Mutual Insurance Company 483,004
004682 Consumer County Mutual Insurance Co 234,024
001758 Auto Club County Mutual Insurance Co 181,176
003634 Foremost County Mutual Insurance Company 171,212
000892 Texas Farm Bureau Mutual Insurance Co 170,212
000764 Allstate County Mutual Insurance Company 130,682
010311 Home State County Mutual Insurance Co 130,372
010346 Colonial County Mutual Insurance Company 118,096
012564 Germania Select Insurance Company 107,865
013850 Texas Farm Bureau Casualty Ins Co 105,477
003382 Southern County Mutual Insurance Company 101,923
010360 Old American County Mutual Fire Ins Co 96,101
004359 Texas Farm Bureau Underwriters 92,464
003572 Infinity County Mutual Insurance Co 74,194
002476 State Farm County Mutual Ins Co of Texas 55,056
002661 Redpoint County Mutual Insurance Company 52,124
004286 Mercury County Mutual Insurance Company 38,933
011417 Metropolitan Lloyds Ins Co of Texas 36,270
011055 Unitrin County Mutual Insurance Company 34,660
003817 Hochheim Prairie Casualty Insurance Co 31,959
022111 Alinsco Insurance Company 31,272
003277 Dairyland County Mutual Ins Co of Texas 28,614
010445 Hallmark County Mutual Insurance Company 25,235
012107 Farm Bureau County Mut Ins Co of Texas 24,936
010574 CEM Insurance Company 21,015
002779 Germania Fire & Casualty Company 20,148
010255 American National County Mutual Ins Co 14,288
Source: AM Best data and research

subjects
Carriers
Texas
Claims
Car
Windstorm
Property

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