If more people read newspapers the recent Insurance Company Update Law signed into law last week wouldn't have passed. It includes making homeowners responsible for attorney fees if they are forced to sue the insurance company because their company did not pay a lawful and justifiable claim. Until last week the law was if the insurance company did not comply with its legal obligation, they paid for the attorneys. Now it is the homeowner who must pay even if they win. So now it's "you try to cheat me, I must pay!"
The law also provides $1 billion to help insurance companies reduce their reinsurance costs, in addition to $2 billion earlier this year. This is our taxpayer money that is helping the insurance companies profit without forcing companies to reform.
To add injury to insult, the law states that anyone who has the non-profit Citizens Insurance will have to change to private insurance even if the private rate is 19.9% more than the Citizens rate! This is a guaranteed profit increase for the insurance companies.
This is not an issue of one political party, it is an issue that that our representatives no longer represent us. It is not what they say, but what they do. In both parties we need primary challengers who will force representatives to represent taxpayers, not lobbyists.
Being pregnant in Texas should not be this dangerous
Business People: David G. Graves, Jeffrey L. Wilson, Parker H. Foster, Teak Hull & Blair W. Will; Hall Estill
Advisor News
- Equitable launches 403(b) pooled employer plan to support nonprofits
- Financial FOMO is quietly straining relationships
- GDP growth to rebound in 2027-2029; markets to see more volatility in 2026
- Health-related costs are the greatest threat to retirement security
- Social Security literacy is crucial for advisors
More Advisor NewsAnnuity News
- Smart annuity planning can benefit long-term tax planning
- Agam Capital Announces the Continued Growth of Agam ISAC’s Bermuda Platform
- Best’s Special Report: Analysis Shows Drastic Shift in Life Insurance Reserves Toward Annuity Products, and a Slide in Credit Quality
- MetLife to Announce First Quarter 2026 Results
- CT commissioner: 70% of policyholders covered in PHL liquidation plan
More Annuity NewsHealth/Employee Benefits News
- Study Findings from Wake Forest University School of Medicine Broaden Understanding of Insurance (Medicare’s 60th Anniversary: Policy, Politics and Payments): Insurance
- New Findings in Managed Care Described from Harvey L. Neiman Health Policy Institute (National Turnaround Time Trends for Medicare Fee-for-Service Beneficiaries, 2014-2023): Managed Care
- Study Findings on Cancer Published by Researchers at Department of Epidemiology (Health Insurance as a Mediator of Neighborhood Deprivation and Pediatric Cancer Survival: An Analysis of State Cancer Registry Data): Cancer
- No vote on bill requiring health insurance to cover infertility treatment
- Cost pressures are driving health care tradeoffs
More Health/Employee Benefits NewsLife Insurance News
- How improving the customer experience can build trust
- AI won’t solve the workforce crisis; here’s what will
- Agam Capital Announces the Continued Growth of Agam ISAC’s Bermuda Platform
- An Application for the Trademark “PREMIER ACCESS” Has Been Filed by The Guardian Life Insurance Company of America: The Guardian Life Insurance Company of America
- AM Best Assigns Credit Ratings to North American Fire & General Insurance Company Limited and North American Life Insurance Company Limited
More Life Insurance News