Texas

[Cho Da]

Farmers just pulled the plug on Texas HO. Is this enough for the TDI to allow rate and form regulation to be reformed?
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Nah.

[jets fan]

Farmers just pulled the plug on Texas HO. Is this enough for the TDI to allow rate and form regulation to be reformed?

A lot of TX insurance is sold through Lloyds companies which are not regulated, so no.

[Cho Da]

Farmers just pulled the plug on Texas HO. Is this enough for the TDI to allow rate and form regulation to be reformed?

A lot of TX insurance is sold through Lloyds companies which are not regulated, so no.HO sold through Lloyds companies is still regulated as to form. Why else would companies still write "HO-B"? It's like an ISO 1977 product. :crazy:

[jets fan]

HO sold through Lloyds companies is still regulated as to form.

Yes, it is - but you should have seen some of the mold loads I put into those TX rates. If you can price for it, the form regulation isn't very annoying.

[Cho Da]

Do you really think you can adequately price for it? I'm not sure I can and still stay in business. How much market disruption will be necessary for reguatory reform to happen?

[jets fan]

Do you really think you can adequately price for it?

Can you adequately price any insurance product? Are you ever 100% sure? As I hinted before, in some of those mold plagued territories, the rates were heavily increased (over 100% in some cases). Am I 100% sure? No. Has the product been priced properly, using all avaliable information? Yes. Do I feel comfortable selling it? Yes.