Financial Services Industry
Industry: Email Alert RSS FeedTexas insurers like MAP concept; hit specifics. (Texas Market Assistance Program, voluntary program linking homeowners in inner-city and rural Texas communities with insurers)
National Underwriter Property & Casualty-Risk & Benefits Management, September, 1996 by Sclafane, Susanne
Now that it's closer to being mapped out, the Texas Market Assistance Program has run into some opposition from Texas insurers who like the concept, but not the specifics of the plan. "We're still supportive of the MAP," said Helena Standifer, a Dallas representative for Bloomington, Ill.-based State Farm.
"Our concern is that the proposal is much too broad," she added, noting that 22.9 percent of the insurance markets have been identified under a proposal announced by Insurance Commissioner Elton Bomer last month. The MAP is a voluntary program designed to link homeowners in "underserved" inner-city and rural Texas communities, as well as in North Texas areas which are frequently hit with destructive hailstorms, with insurers willing to issue policies....
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