Estimates for damages from Hurricane Harvey are coming in in the
billions - with Fortune reporting costs may "top $100
billion" as of August 29, 2017. Given this news, upcoming
revisions to the Texas Insurance Code are in the spotlight.
Specifically,
HB1774, effective September 1, 2017, changes some aspects of
the litigation process pursuant to the Texas Insurance Code should
an insured bring a first-party suit. Ultimately, we expect that the
ability of an insured to make a property claim will remain the
same.
Both insurers and insureds should be mindful of the following
changes:
Q: What claims are impacted by the new
legislation?
A: The new legislation applies to property
damage claims arising from damage caused by nature-related events.
However, the new law does not apply to claims made against flood
insurance issued through the National Flood Insurance Program, a
federal program administered by the Federal Emergency Management
Administration, which is not
