Lessons from the Texas Homeowners Insurance Crisis Bob Puelz ...

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35% 30% 25% 20% 15% 10% 5% 0% 60% 50% 40% 30% 20% 10% 0% 50% 40% 30% 20% 10% 0% 12% 10% 8% 6% 4% 2% 0% 15% 10% 5% 0% Figure 4 Harris County, Texas Fire Losses as a Proportion of Total Losses 1996 1997 1998 1999 2000 2001 Wind Losses as a Proportion of Total Losses 1996 1997 1998 1999 2000 2001 Water Losses as a Proportion of Total Losses 1996 1997 1998 1999 2000 2001 Theft Losses as a Proportion of Total Losses 1996 1997 1998 1999 2000 2001 Total Other as a Proportion of Total Premium 1996 1997 1998 1999 2000 2001 30 Harris Texas Harris Texas Harris Texas Harris Texas Harris Texas 2001 demographics Income per Capita $37,065 % Rural Population 2% # of Housing Units 1,298,130 % Rural Housing 2% % Vacant Housing 7% % Rented Housing 45%
10% 8% 6% 4% 2% 0% 15% 10% 5% 0% 14% 12% 10% 8% 6% 4% 2% 0% 2.00% 1.50% 1.00% 0.50% 0.00% 120.00% 100.00% 80.00% 60.00% 40.00% 20.00% 0.00% Source: Texas Department of Insurance Figure 4 continued 1996 1997 1998 1999 2000 2001 Total Other as a Proportion of Total Losses 1996 1997 1998 1999 2000 2001 Total Liab as a Proportion of Total Losses 1996 1997 1998 1999 2000 2001 Total VMM as a Proportion of Total Losses 1996 1997 1998 1999 2000 2001 Total Loss as a Proportion of Total Premium 1996 1997 1998 1999 2000 2001 31 Harris Texas Harris Texas Harris Texas Harris Texas Harris Texas
Page 1 and 2: Lessons from the Texas Homeowners I
Page 3 and 4: I. Introduction Lessons from the Te
Page 5 and 6: Illinois with company-level data to
Page 7 and 8: [Table 1 about here] might have bee
Page 9 and 10: with the NAIC, and were sourced for
Page 11 and 12: To further explore the Texas settin
Page 13 and 14: amounts are summarized in Table 4.
Page 15 and 16: [Figure 4 about here] One glimpse i
Page 17 and 18: the average household size of an oc
Page 19 and 20: units that have been classified as
Page 21 and 22: as equations in levels. The Hansen
Page 23 and 24: while variations in perils help exp
Page 26 and 27: Table 1 Texas Homeowners Premiums W
Page 28 and 29: "Combined" Ratio $1.80 $1.60 $1.40
Page 30 and 31: Table 5 Texas Statewide Homeowners
Page 34 and 35: Cumulative % of Texas Counties 100%
Page 36 and 37: Table 7 GMM Estimates of Empirical
Page 38: Harrington, Scott E. and Greg Nieha

Lessons from the Texas Homeowners Insurance Crisis Bob Puelz ...

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