Press Advisory: #protectpolicyholders resource page
Texas Watch has released a one-stop resource for those wishing to learn more about the fight to preserve policyholder protections. Ware Wendell, Executive Director of Texas Watch, released the following statement:
Texans for Lawsuit Reform and insurance lobbyists are attempting to manufacture a "litigation crisis" this legislative session. Their goal is clear: to deny, delay, and underpay the valid claims of Texans while getting off the hook for their unfair claims handling. But, while these special interests hustle for special privileges, Texas consumers are caught in the middle.
This session, Texas Watch will fight to preserve policyholder protections with truth and facts. Facts like:
78 percent of Texans believe that insurance companies routinely deny, delay, and underpay valid claims;
During the years that insurance lobbyists have cried "crisis," the Texas homeowner insurance industry raked in almost $5 billion in underwriting profits;
The lawsuit rate is merely 1.5 - 2% of all claims, hardly a "litigation crisis" despite the slick PR campaign being mounted by corporate lobbies; and
The real crisis is insurance companies stiff-arming their customers. According to the Texas Department of Insurance, only one in three claims are reopened by insurers. When policyholders complain, carriers refuse to listen, abandoning families in their time of need.
Learn more at www.texaswatch.org/protectpolicyholders
Texas Watch is a statewide, non-partisan, citizen advocacy organization that works on issues related to community safety and accountability. Related posts can be found here.