Insurance Companies Can't Up Rates

Insurance companies will no longer be allowed to jack up your rates without careful scrutiny from the Texas Department of Insurance. The Federal government now requires that States interfere if there is anĀ  “unreasonable” rate increase. State insurance officials say they’re concerned they don’t have the resources for regular review, and the Federal government hasn’t defined what “unreasonable” is. But the State has recieved a million dollars from the federal government ot help with the review process.

Comments

One Comment

  1. Jerald says:

    Yah right! For the last 20 plus years the state of Texas hasn’t had the balls to tell an insurance co. they can’t raise rates.

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