Cinco De Mayo
On the rising cost of home insurance in Texas, see this headline from the Chron:
Texas lawmakers want more rules for home insurers. Critics warn they won’t guarantee lower prices
Here is how the Chron story begins:
In response to the state’s growing home insurance crisis, Texas lawmakers are considering proposals that would require insurers to get approval for rate hikes over a certain threshold.
“Texans spoke very clearly of their concerns about rising property and casualty rates,” said state Sen. Charles Schwertner, a Georgetown Republican who authored a Senate bill that would require the state to approve rate hikes that exceed 10%. He said the threshold offered some leniency for insurers, which don’t currently need pre-approval for any increases, without providing them “complete carte blanche.”
Consumer advocates have warned that insurers could game the system Schwertner is envisioning. Many providers already file multiple rate changes per year, which they could continue to do under the proposed legislation — even if cumulatively those rates exceed 10%.
And prior to 2023 — when rates spiked by 21% statewide, as insurers responded to skyrocketing losses driven by extreme weather — few rate increases exceeded 10%, according to a Hearst analysis of major insurer’s rate filings.
Douglas Heller, the director of insurance at the Consumer Federation of America, a national nonprofit, called Schwertner’s proposal a “Pyrrhic victory,” saying 10% was too high.
“It’s a fix that doesn’t fix,” he said.
Here is the entire read: Texas plan to rein in home insurers doesn’t go far enough, critics say.
I am glad there is debate happening on this in the legislature. Stay tuned.
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On this Cinco De Mayo weekend, there was a mass shooting in a Latino neighborhood in Southeast H-Town. One was killed and another 15 wounded at an outdoor party. The invitation to the party said no guns were allowed. Yeah, sure. This is Texas.
There was also a mass shooting at a Cinco De Mayo family gathering at an Arizona Mexican restaurant. Three were killed and another five were injured.
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On a brighter Cinco De Mayo note, KPRC Channel 2 News morning co-anchor Sofia Ojeda is celebrating a Cinco De Mayo birthday today. Sofia is one of my favorites. That is Sofia in the featured photo with fellow co-anchor Owen Conflenti. Happy Birthday, Sofia!
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The season is over for the Rockets. Disappointing for sure.
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The Astros are 17-16 after losing the weekend series to the White Sox. Come on. The Astros need to play better baseball.
