State To Review More Insurance Premiums

By: Associated Press
By: Associated Press

AUSTIN, Texas (AP) — Texas officials expect to regulate insurance rates more actively under a new federal law, requiring insurers to justify "unreasonable" increases in premiums.

However, state officials tell the Austin American-Statesman that a lack of staff and other resources may keep the state from reviewing and comparing rates on a regular basis. They say the state has had the authority to regulate insurance premiums more rigidly, but that power wasn't used regularly.

Katrina Daniel is senior associate commissioner of the state's life, health and licensing program at the Texas Department of Insurance. She says the state, in the past, has reviewed only rate increases of more than 50 percent and complaints. Now, the department is devising a schedule for performing more rate reviews.

Daniel says the federal government has left the state with a problem by not defining "unreasonable."

___

Information from: Austin American-Statesman, http://www.statesman.com


Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, Trolling or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to comments@kbtx.com. Please provide detailed information.

powered by Disqus
KBTX-TV Channel 3 4141 E. 29th Street Bryan, TX 77802 Phone: (979) 846-7777 Fax: (979) 846-1490 News Fax: (979) 846-1888
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 101305339 - kbtx.com/a?a=101305339