They grow things bigger in Texas, and that includes insurer payouts for mold damage. Over the past three years, Texas insurers have paid out just under $4 billion in mold-related claims. In 2000, claims totaled $420 million. In 2001, claims reached $1 billion and peaked in 2002 with $2 billion. Since then, the cost of mold claims has been declining, with most homeowners policies either limiting mold coverage or excluding it altogether. The Insurance Council of Texas, a carrier group, says mold claims have represented a larger monetary loss for insurers than any weather catastrophe to strike the state. More

May 27, 2003