The Texas Department of Insurance is in for a shakeup as Governor Rick Perry announced Wednesday that a new Insurance Commissioner is on the way. Eleanor Kitzman, once the executive director of the South Carolina Budget and Control Board, has been appointed to the position and will take the reins of the office beginning next month. Her term will span until February 1, 2013, giving Kitzman ample time to affect change in the state’s insurance industry. Kitzman will be replacing former Commissioner Mike Geeslin who held the office for several…
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Texas residents received fraudulent windstorm inspections, may not be eligible for coverage
The Texas Windstorm Insurance Association, the state-run insurance program that is one of the very few places offering coverage against wind damage to Texas residents, will continue to offer insurance coverage thanks to a special session of the state’s Legislature. Lawmakers toiled over the issue for some time, often unable to meet a consensus on what should be done about the indebted program. The decision was made some weeks ago that the program should continue, but with changes. Along with these changes come new home inspections, which will determine whether…
Read More“Anti-Ambulance Chasing” Bill in Texas Called Unconstitutional by Federal Court of Appeals
A ruling against a Texas “anti-ambulance chasing” bill has been reversed by a federal appeals court, saying that the decision of the lower court was unconstitutional. U.S. District Judge Lee Yeakel’s ruling was determined by the Austin-based U.S. Court of Appeals for the Fifth Circuit to have been made in error, regarding a 2009 law that was enacted in Texas, and that was, according to the federal court of appeals, unconstitutional. The bill had to do with the solicitation of victims of car accidents within the first thirty days after…
Read MoreTexas windstorm insurance legislation inches closer to becoming law
Texas lawmakers have been toiling over changes to the state’s insurance program, the Texas Windstorm Insurance Association. The program provides affordable coverage to coastal residences and is one of the few organizations through which homeowners can obtain protections from wind damage. Legislators have been debating over the necessity of the program and whether or not the state should continue to support it. A definitive decision had not been made before the end of the legislative session, but Senators were unwilling to let the issue slide into obscurity. After calling for…
Read MoreThe fate of the Texas state run wind pool still undecided
Texas lawmakers will be convening in a special session of Senate after they were unable to determine the fate of the state’s Windstorm Insurance Association. The state-run insurance program provides coverage to homeowners in coastal areas that are prone to hurricanes. A bill to reform the program was before the state Senate last months, but legislators were unable to reach a compromise regarding the provisions of the bill. Now, the Legislature will be in session until a verdict can be reached. One of the provisions of the bill to reform…
Read MoreCurrent slab claim process under review in Texas
Texas lawmakers approved revisions to the state’s windstorm fund this week. The Texas Windstorm Insurance Association, a pseudo-government agency in charge of providing insurance coverage to coastal properties prone to hurricane damage, has been the subject of debate amongst legislators for some time now. Senate approved reform will address several issues, including new methods to determine whether damage is caused by wind or water. The reform bill, House Bill 272, was passed unanimously by the Senate. One of the issues to be addressed by the system reform is how the…
Read MoreTexas Department of Insurance receives long awaited extension
Lawmakers in Texas voted to extend the longevity of the state’s Department of Insurance. The department will also enjoy more authority over the insurance industry and will be able to impose stricter penalties when companies challenge the agency’s rate assertions and lose. The relevance of the Department had been debated for some time before a decision was reached Monday. Many legislators say that the ruling was long overdue. According to Texas law, state agencies must be evaluated for effectiveness every 12 years. Legislators determine whether these agencies provide a necessary…
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