Texas Attorney General Ken Paxton and lawyers representing large and midsized businesses in the state are providing contradictory information about the impact of a new law governing the rights of people and businesses to legally challenge insurance companies decision in paying property owners in storm-related losses. Paxton says new law is no big deal and that the lawyers are deliberately misleading their clients.

Federal law enforcement authorities announced late Thursday that they have formed a task force with state and local officials in South Texas designed to tackle fraud schemes targeting victims of Hurricane Harvey. At the same time, SEC Regional Director Shamoil Shipchandler tells The Texas Lawbook that the federal agency is closely watching the impact that Hurricane Harvey and the subsequent flooding is having – and potentially could have – on the corporations and financial advisers that it regulates.

Tens of thousands of Texas homeowners and business owners who have suffered billions of dollars in property damages from Hurricane Harvey may soon discover that a new state law eliminates long-time legal incentives for insurance companies to pay victims quickly and fully for their losses.