Will toxic mold threaten commercial windstorm insurance premiums?:MyQuickInsurance.Com, Inc.

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Will toxic mold threaten commercial windstorm insurance premiums?

Will toxic mold threaten commercial windstorm insurance premiums?

Sure, to tell the truth, they have already done so in Texas. While state consumer legislative body call for a cut, a premium boost for hail and windstorm insurance on businesses is what a Texas insurance trade group is in conflict for along the Gulf Coast.

The Texas Department of Insurance has been called upon by The Texas Windstorm Insurance Association (TWIA) to approve a 13.6 percent premium augment for windstorm and hail policies on:

- Coverage for commercial buildings

- Citing the requirement

Security against the likelihood of toxic mold claims in the prospect

Data must lead the to state to lower rates by 15 percent, the highest permitted by the law, as per The Office of Public Insurance Counsel (OPIC), a Texas state agency that represents the wellbeing of insurance customers in insurance matters.

Because of the truth that the water damages make a breeding ground for toxic mold the insurance rates are rising. On the other hand, if there were no threats made by the toxic mold, the insurance rates would've stayed at a stable rate.

There are no facts to support their claims that mold will be a problem. You can't rely on anecdotal facts and people saying that they think that this can be a problem to raise insurance rates, claims the public insurance counsel for Texas.

There are two sides to this discussion. One side that is the law was already in support of the authority identifying the premiums. However, both insurance professionals make superb arguments and both prove outstanding points.

The fact of the matter is that in the last 30 years or so, there have not been a tremendous number of costly storms in Texas along the Gulf Coast. Our analysis shows that the present rates are not moderate.

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