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A bill reforming the troubled texas Windstorm insurance Association passed the texas House on Tuesday, and coastal lawmakers said they stripped an amendment that would have raised policy rates by 15 percent.
texas House passes windstorm insurance reform
The proposed law sets more stringent rules for filing and collecting claims
State House passes bill reforming texas Windstorm insurance Association
share: digg facebook twitter The legislation, part of a regular review of state agencies, faces a final procedural hurdle before it can move to the Senate. Among them were provisions such as prior approval of rate increases, a ban on credit scoring in the underwriting of home and auto insurance and the creation of an elected insurance commissioner post.
No major reforms for insurance regulation
share: digg facebook twitter Supporters of the bill said it would weed out problems with the agency, which requires insurance companies in the state to provide insurance to property owners along the coast. Opponents of the bill, though, said it would make it harder for property owners to collect on their claims following tropical storms and hurricanes.
New regulations proposed for windstorm fund
Click or Call (972) 840-0700 to speak to an Insurance Consultant Today.
A bill reforming the troubled texas Windstorm insurance Association passed the texas House on Tuesday, and coastal lawmakers said they stripped an amendment that would have raised policy rates by 15 percent.
texas House passes windstorm insurance reform
The proposed law sets more stringent rules for filing and collecting claims
State House passes bill reforming texas Windstorm insurance Association
share: digg facebook twitter The legislation, part of a regular review of state agencies, faces a final procedural hurdle before it can move to the Senate. Among them were provisions such as prior approval of rate increases, a ban on credit scoring in the underwriting of home and auto insurance and the creation of an elected insurance commissioner post.
No major reforms for insurance regulation
share: digg facebook twitter Supporters of the bill said it would weed out problems with the agency, which requires insurance companies in the state to provide insurance to property owners along the coast. Opponents of the bill, though, said it would make it harder for property owners to collect on their claims following tropical storms and hurricanes.
New regulations proposed for windstorm fund
Click or Call (972) 840-0700 to speak to an Insurance Consultant Today.
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