NU Online News Service, Jan. 18, 1:02 p.m. EDT
Plans by United Services Automobile Association to raise homeowners-insurance rates in Texas for the third time in the past 12 months, combined with similar rate increases by other insurers, boost the prospects of carriers in the state keeping pace with projected elevated claim costs, according to Moody's Investors Service.
In its Weekly Credit Outlook, Moody's says USAA announced its plans for a rate increase on Jan. 6, and adds that the company's three increases over the past year total 15.2 percent.
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