Insurers group back Texas bill to curb hail damage lawsuits
“Today’s hearing on Senate Bill 10 is an important first step for stopping hail litigation abuse,” PCI Vice President Joe Woods said in the March 9 release. “It was important for lawmakers to hear testimony from local insurance companies that have been directly impacted by hail claims litigation abuse and that have been forced to leave areas of the state because of the large numbers of lawsuits.”
Woods went on to say that SB 10 would protect homeowners from those who prey on storm victims. "The bill helps to stop the lawsuit abuses by storm-chasing lawyers while ensuring that policyholders still have all their legal rights if they feel their insurer acted in bad faith,” he said in the release.
“We encourage the Texas legislature to support protecting insurance policyholders and business owners by passing this important piece of legislation before more consumers fall victim to this type of abuse,” Woods said. “These lawsuits are not only costing the homeowners; entire neighborhoods can be impacted by potentially increased insurance premiums in their area as a result of frivolous lawsuits. As we move forward in the coming weeks, we hope lawmakers will make the right decision to protect their constituents.”