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

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As of late March, Texas policyholders had filed 386,108 property and auto insurance claims related to the winter storm that blanketed the state in mid-February.

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

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

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

Residential property claims represented the bulk of the claims reported (341,679) and paid (169,434) by the end of March. The average incurred residential property loss is $6,594.

There were 24,788 commercial property claims reported, of which 8,035 have been paid. The data shows the average incurred commercial property loss to be $49,712.

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

TDI clarified in its report that “Reported claims are claims reported to the insurer. For this data call, insurers use their own definition of what constitutes a single ‘claim.’ In this case, one claim may mean a single policy that generated a claim, a single piece of property that generated a claim, a single coverage on a policy that generated a claim, or some other definition.”

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

Homeowners/Farmowners Multiperil Companies with Large Concentrations in Texas
Ranked by 2019 Texas Homeowners/Farmowners Multiperil DPW as a % of Total Company Homeowners/Farmowners DPW
(Minimum 50% Share of Company DPW Comprised of Texas Homeowners/Farmowners DPW)
($ thousands)
AMB #	Company Name	Texas	US	Texas % of 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’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	Foremost 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 Insurance Company	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 a % of Total Company CMP Property DPW
(Minumum 50% Share of Company DPW Comprised of Texas CMP Multiperil DPW)
($ thousands)
AMB #	Company Name	Texas	US	Texas % of 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’s Insurance Company	22,611	22,611	100.0
012570	Insurors Indemnity Lloyds	9,097	9,097	100.0
003297	Travelers Lloyds Insurance Company	8,926	8,926	100.0
012318	Utica Lloyd’s of 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	1,442	1,442	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	Acceptance Indemnity 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 Physical Damage Insurers Wholly Concentrated in Texas
100% of 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	Consumers 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

Topics Carriers Texas Claims Auto Windstorm Property

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