May 22, 2009
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Texas Insurance Marketplace is Working
Lower premiums, increased competition, and more choices and availability for consumers since 2003 reforms.

It's clear that Texas homeowners insurance
rates have come down and competition
among insurance companies has increased.
From May 2008 TDI Report on the Texas Homeowners Insurance Market

Senate Bill 1007 does what the Sunset process is supposed to do – it reauthorizes the Texas Department of Insurance and, with it, continues financial regulations that ensure insurance companies remain solvent and are able to pay claims.

With just over one week to go until the legislative session ends, legislators have the opportunity to continue the advances made under the current file and use system, even though, as the Sunset Commission found, it has not been fully allowed to work.

As the TDI Sunset legislation is debated on the House floor this weekend, Texas policymakers should pause to consider the effect of their decisions on the current marketplace in Texas. It would be a disservice to both consumers and companies to reverse the documented improvements of the last few years – such as lower premiums, increased competition, and more choices and availability for consumers.