Texas lawyers have some crucial advice for victims of Hurricane Harvey: Notify your insurance company of home or business damage before Sept. 1 or suffer the consequences of a new state law that reduces the penalties insurers pay for delaying or denying claims.
The law, also known as the “Hailstorm Bill,” goes into effect on Friday and reduces the 18 percent penalty insurers pay for unlawfully delaying or denying “forces of nature” claims down to about 10 percent. That tort reform law, which was signed by Texas Gov. Greg Abbott on May 27, was aimed at plaintiffs attorneys who have filed $340 million in hailstorm claims against insurance companies since 2012.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
