Promises, Promises
Texas Watch—July 15th, 2010
In 2002, Gov. Rick Perry promised to fix our broken homeowners insurance market. It is 2010 and nothing has changed. We need to remind him to keep his word.
On February 12, 2002, Gov. Perry held a press conference in Austin discussing the problems with homeowners insurance in Texas. He raised concerns about “troubling trends in the homeowner’s insurance market in Texas,” adding that “homeowner’s insurance is getting more expensive, coverage is becoming harder to get.”
Perry added that the Insurance Commissioner needed more authority to protect consumers from unwarranted rate increases, calling prior approval of insurance rates a “tougher option” than the file and use system that was created in 2003. He concluded that “Prior approval would require the Insurance Commissioner to approve or disapprove certain rate increases before customers are asked to pay – increasing the Commissioner’s ability to get control of an unstable market and prevent rate shock for Texas consumers.” (See the full text of Perry’s remarks on his official website here.)
We could not agree more.
Alas, it is more than 8 years later and Texans are still struggling with rising insurance rates and falling insurance protections. In fact, we pay among the highest premiums in the nation – more than 76% above the national average, according to the National Association of Insurance Commissioners. And, the level of coverage available in most insurance policies is significantly less than it was just a few years ago.
We encourage Texans to contact Gov. Perry and ask him to keep his promise to support real insurance reforms that protect consumers. Call him today at 1-800-843-5789. Or send him an e-mail.
