Officials to speak at symposium about home insurance industry

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Officials to speak at symposium about home insurance industry

By Breaux

Odessa American

A slate of insurance industry officials will discuss the effects of proposed

changes to the industry in Texas - including Farmers Insurance Co's.

decision to stop underwriting homeowners' policies - at a Thursday symposium

in Odessa.

Hosted by the Mexican American Network of Odessa/Hispanic Chamber of

Commerce, the symposium will begin at 11:30 a.m. at the MCM Elegante hotel,

5200 E. University Blvd.

Lunch will be served.

" Given the high level of concern and inquiries by MANO members and citizens

and residents throughout West Texas, we decided to organize a forum for

discussion of this vital issue., " said MANO Executive Director Iris Correa,

in a news release.

The symposium is taking place just as Farmers Insurance Co. is poised to

stop underwriting new or existing homeowners' policies in Texas beginning

Nov. 11.

In August, Gov. Rick and Texas Department of Insurance Commissioner

Montemayor announced the attorney general's office was suing Farmers on

the grounds that the second-largest insurer in Texas had engaged in price

gouging and deceptive trade practices.

One week later, the state issued a cease and desist order against Farmers.

The lawsuit climaxed a dramatic rise in insurance claims statewide for mold

damage in 2000-01.

Because rising homeowners insurance rates have become a key issue in the

Texas governor's race, and Democratic gubernatorial candidate Tony

or their representatives have been invited to the forum, said MANO

spokeswoman Martha Arana.

The symposium will include a panel of experts and leaders who are currently

involved in the policy matter, including state Sen. Madla (D-San

), an insurance broker; Hansom, regional manager for the

National Association of Independent Insurers in Austin; J.R. ,

chairman of the United States Hispanic Chambers of Commerce board of

directors; Durden, governmental relations director for the Texas

Department of Insurance; a Montoya, an independent insurance agent based

in Lubbock; Gene , an Odessa insurance agent; Danny Urias, district

manager for Farmers Insurance Co., Midland; and LuAnn , Midland city

councilwoman.

A 25-minute question-and-answer session will follow the panelists' remarks.

For information, call 335-0250.