Here’s an article on “Texas Farm Bureau Insurance 2025”:
Overview
Texas Farm Bureau Insurance (TFBI) continues to be a leading provider of insurance services in Texas, offering a wide range of coverage options for individuals, families, and businesses. In 2025, TFBI remains committed to providing affordable and comprehensive insurance solutions tailored to the unique needs of Texans.
Legislative Priorities
In 2025, the Texas Farm Bureau has set new state and national legislative priorities to advocate for the interests of Texas farmers and ranchers. These priorities include supporting policies that promote agricultural sustainability, enhance rural infrastructure, and protect the rights of property owners.
Scholarship Programs
TFBI is dedicated to empowering the youth of Texas through its scholarship programs. In 2025, TFBI will award over $650,000 in scholarships to students pursuing careers in agriculture. These scholarships are designed to cultivate the next generation of farmers, ranchers, and agricultural advocates.
Insurance Products
TFBI offers a variety of insurance products, including auto, home, life, and health insurance. The company is known for its affordable rates and excellent customer service. In 2025, TFBI continues to provide competitive pricing and comprehensive coverage options to meet the diverse needs of its customers.
Customer Experience
TFBI has received positive reviews for its customer service and overall performance. The company’s affiliation with the Farm Bureau allows it to offer some of the cheapest auto insurance in Texas, making it a popular choice for many Texans.
texas farm bureau insurance 2025
What are the latest statistics on Texas Farm Bureau Insurance?
Here are some of the latest statistics on Texas Farm Bureau Insurance (TFBI) as of 2024:
- Membership: TFBI has over 554,048 members.
- Health Plans: TFBI covers 5,168 lives through its health plans.
- Member Savings: Members using TFB Total Member-Families saved $4.85 million.
- County Participation: 156 counties showed a gain in membership.
- Customer Retention: TFBI has a customer retention rate of 87.28%.
- Scholarships: TFBI awarded $5,500 in scholarships to young farmers and ranchers.
- MyTFB Accounts: 20,889 members created new MyTFB accounts.
- Field Operations: TFBI participated in 1,525 County Farm Bureau (CFB) board meetings.
- Credit Ratings: AM Best downgraded TFBI’s Financial Strength Rating to B++ (Good) from A- (Excellent) due to underwriting losses and severe weather-related events.
What led to the downgrade in financial strength rating?
The downgrade in Texas Farm Bureau Insurance’s financial strength rating by AM Best was primarily due to underwriting losses and severe weather-related events. Here are the key factors:
- Underwriting Losses: The company experienced higher-than-expected claims, particularly due to severe weather events in Texas, which led to significant underwriting losses.
- Policyholder Surplus Reduction: There was a 21.5% reduction in the policyholder surplus, which affected the company’s risk-adjusted capitalization.
- Increased Reinsurance Retention: The company increased its reinsurance retention for 2024, which also contributed to the financial strain.
- Volatility in Underwriting Results: Over the past few years, the company’s underwriting results have been volatile, adding pressure to its financial stability.
In response to these challenges, Texas Farm Bureau Insurance has implemented several initiatives to improve its financial strength, including significant rate increases, enhanced exposure management, and refined underwriting guidelines.
texas farm bureau insurance 2025