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The Texas Department of Insurance is holding
a hearing in Austin to discuss credit-based insurance scoring
on Wednesday, January 7, 2004 at 9:30 a.m. The Texas
Insurance Commissioner needs to hear from Texas consumers like
you! If you are willing to attend the Wedneday, January 7, 2004
hearing in Austin, click
here to complete this form and a TCAIS representative will
contact you. -or-
If you would like to write a letter to the department,
please send it to: Texas Department of Insurance
Attn: Gene C. Jarmon, General Counsel & Chief Clerk
Mail Code 113-2A
P. O. Box 149104
Austin, TX 78714-9104
Fax: 512-475-2025
Docket No. 2583
a copy should also be mailed to:
Texas Department of Insurance
Marilyn Hamilton, Associate Commissioner, Property and Casualty
Group
MC 104-PC
P. O. Box 149104
Austin, TX 78714-9104
Fax: 512-475-2025
Docket No. 2583
please also send a copy to TCAIS:
Texas Coalition for Affordable Insurance
Solutions
500 West 13th Street
Austin, TX 78701
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Let’s
Keep Insurance Affordable and Available!
Protect Your Insurance Discounts! December 29, 2003,
Statement from TCAIS Director Beaman Floyd Reminder: At
the TDI hearing on January 7th, you have the chance to share
your opinion! On Wednesday, January 7th, the Texas Department of Insurance (TDI)
is holding a hearing in Austin that will determine a pivotal rule
for shaping the future of the Texas insurance market. Our coalition
needs volunteers to take action and weigh in on this issue.
TDI
will be considering restrictions on the use of credit-based
insurance scoring – a
practice that saves money for an estimated 60% or more of Texas
policyholders. Under the proposed 10% “collar,” consumers
with positive credit scores may see their rates go up if their
discount is reduced
to 10%.
Credit-based insurance scoring is an objective
tool that allows insurers to more accurately assess risk and
price premiums accordingly.
Proposed restrictions on this tool are a bad idea and the large
majority of Texas consumers will pay the price.
To protect your discount, you can:
- Attend
the hearing and testify that you want insurance companies to
use every tool possible to make sure that consumers are paying
the accurate rates. Testify that you don't want to subsidize
those who represent a high risk.
- Attend the hearing and submit
a written comment expressing your opposition to the 10% collar
that will raise rates for the
large majority of Texans. (You don’t have to testify.)
- Fax
or send written comments to the Department to explain that
low-risk consumers should not have to subsidize high-risk
consumers. Everyone should pay rates that reflect their own
risk.
The Texas Insurance Commissioner needs to hear from Texas consumers
like you!
For the latest information about the insurance
market, please visit our Web site at www.tcais.org.
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