Hailstorm Lawsuit Abuse Must Stop
AUSTIN, Texas- Joe Woods, vice president, state government relations for the Property Casualty Insurers Association of America (PCI), today issued the following statement in support of SB 10 to put an end to hail lawsuit abuse.
“Today’s hearing on Senate Bill 10 is an important first step for stopping hail litigation abuse. 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.
“We all know that Texas consistently ranks among the top 10 states for severe weather events. With such high risk for property damage from severe weather and natural disasters, Texans need peace of mind that their insurance claims will be settled quickly and efficiently.
“SB 10 will help make that happen by protecting homeowners from the bad actors 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.
“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.
“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.”