Insurance companies cover businesses and individuals when disasters strike. That’s their value. But in the past few years there have been fewer big disasters. When there are fewer disasters people start questioning the value of having insurance. Demand has stagnated and so premiums have been flat. Competitors, smelling blood, have entered the field offering discounted rates. All of this has contributed to profit challenges for existing insurers. But not anymore. The recent big disasters in Texas and Florida will surely require big insurance payouts. But with these payouts comes an opportunity: the chance to finally increase premiums. Gene Marks, The Washington Post 09/13/2017
Read Article: The Washington Post
From the Texas Trial Lawyers Association news release.