Author Archives: Jim Gavin, Insurance Information Specialist

Ask Regina

Q. We have hired a new employee. What can that person do without a license? A. Some employees of an insurance agency do not need to be licensed. The licensing law specifically exempts the following employees from licensing requirements: “A … Continue reading

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Ask Regina

Q. Is there a law in Texas that if a house is a total loss the company has to pay the full amount of insurance on the policy? A. Texas has a Valued Policy law that requires the full amount of … Continue reading

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Ask Regina

Q. I’m going to retire before my license renews. Do I still need to take continuing education courses? A. Yes. The obligation to meet the requirements of licensure, including continuing education, applies as soon as you are issued the license.  … Continue reading

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Ask Regina

Q. My customer owns acreage that is leased to another party for cattle grazing. There are no man-made structures on the property. Is this covered by the homeowners policy? A. The definition of an “insured location” includes “vacant land other … Continue reading

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Ask Regina

Q. Does an insurance company owe diminished value when settling a claim?   A. This issue was addressed in a Commissioner’s Bulletin in April 2000. It says: “The position of the Department is that an insurer is not obligated to … Continue reading

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Why is My Homeowners Insurance So Expensive?

Why is My Homeowners Insurance So Expensive? It’s a question we hear often from customers particularly when mortgage statements are received and the dreaded increase in the monthly payment becomes a reality. A recent report by Insurify based upon 2016 … Continue reading

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All Contracts are Not Alike

A member recently brought to our attention the importance of reviewing contracts with companies, brokers and others. He found that a particular contract placed ownership of the business with the broker, not the agent. The ownership of expirations is a … Continue reading

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TDI Licensing Update

IIAT recently met with TDI to discuss a number of topics including the licensing process. The good news is that the Department has recovered from the flood of applications and backlog resulting from Hurricane Harvey. TDI has stabilized processing times … Continue reading

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The 20 Percent Claim Solution

Texas has had a proportionate responsibility law for some time. The purpose is to prevent someone from recovering the amount that their own negligence contributed to a claim. This is codified in the Civil Practices and Remedies code which requires … Continue reading

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Why So Much? 

Homeowners customers occasionally ask how much insurance they need for their home. More often they ask why the amount of insurance is so high. How should you answer? Check the Client Communications section of InfoCentral for the answer.  

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