Biggest home insurers' hefty hikes unchallenged by Texas commissioner
AUSTIN — Texas’ insurance commissioner has allowed the three biggest home insurers to impose hefty rate hikes on two-thirds of their policyholders, despite strong objections from the state consumer advocate for insurance that have been all but ignored.
State Insurance Commissioner Julia Rathgeber’s office said Friday that premium increases for Allstate, Farmers and State Farm are still under review, more than eight months after the state learned of them. The higher rates have been appearing on renewal notices since the start of the year.
It appears unlikely that Rathgeber will take any action. She first learned of the increases in late 2013.
The commissioner can reject any new rates that are deemed excessive and order refunds. But she has shown no signs of considering such action so far. Her predecessor questioned no premium hikes in her two years in office.
Read more: http://www.dallasnews.com/news/state/headlines/20140912-biggest-home-insurers-hefty-hikes-unchallenged-by-texas-commissioner.ece
[font color=green]Holding true to form for a Perry crony appointee.[font]
= new reply since forum marked as read
