COLUMBUS, Ohio, Sept. 9, 2011 /PRNewswire/ -- Wildfires continue to sweep through Texas, leaving behind heartbreaking devastation for those affected. Reports indicate the death of at least two people as the unprecedented fires have consumed more than 34,000 acres of land while destroying more than 1,400 homes. According to the National Climatic Data Center (NCDC), Texas is having its driest year in recorded history. These conditions combined with hot temperatures and strong winds have fuelled the fires. The Insurance Council of Texas expects the wildfires to cause more than $100 million in insured damage.
Fortunately for homeowners affected in Texas, the companies listed in the Top 10 for Texas are all affiliated with well-respected and financially stable groups. State Farm Lloyds Inc. has approximately 29 percent of the 2010 direct premium written for homeowners' multi-peril in Texas. Hopefully consumers can take some solace that covered losses are backed by financially stable insurers who can honor meritorious claims.
2010 Direct Premiums Written – Homeowners Multi-Peril
State Farm Lloyds Inc
Allstate Texas Lloyds
Texas Farmers Insurance Company
United Service Automobile Assn
USAA Texas Lloyds Company
Farmers Insurance Exchange
Allstate Fire and Casualty Insurance Company
Travelers Lloyds of Texas Insurance Company
Nationwide Property & Casualty Insurance Company
SAFECO Insurance Company of IN
Subtotal – Top 10
About Demotech, Inc.
Demotech, Inc. is a financial analysis firm located in Columbus, Ohio. Since 1985, Demotech, Inc. has been serving the insurance industry by providing actuarial consulting and accurate and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurance companies and Title underwriters. FSRs are a leading indicator of the financial stability of a company. Our rating process provides an objective baseline and insight into the future solvency of a company. As an independent financial analysis firm, Demotech has a proven track record of predicting financial stability in the insurance industry. As the first company to have its rating process formally reviewed and accepted by Fannie Mae, Freddie Mac and HUD, Demotech has been leveling the playing field by offering FSRs to insurers of all sizes.
Visit www.demotech.com for more information.
SOURCE Demotech, Inc.