Texas Insurance Update

The Senate bill (CSSB 14) would impose government price controls, add layers of costly bureaucratic mandates, substitute regulators’ decisions in place of sound business decisions, force certain Texans to subsidize the insurance costs of other Texans, and cause businesses to view Texas as a less desirable place to do business.

Citizens should call their House member.

Below is some background information and talking points for calling your legislator or a draft of a letter you can modify and send your legislator:

As a constituent in your district, I am asking you to please vote for market solutions in insurance. The legislation passed by the Senate would be a step backwards for Texas by causing more uncertainty and unpredictability in the Texas insurance market than today. Instead we need to create a more stable, competitive market.

If you think Texas has faced problems in its homeowners insurance market recently, it could get even worse if the Senate-passed bill becomes law.

The Senate bill (CSSB 14) would impose government price controls, add layers of costly bureaucratic mandates, substitute regulators’ decisions in place of sound business decisions, force certain Texans to subsidize the insurance costs of other Texans, and cause businesses to view Texas as a less desirable place to do business.

As a consumer, I need more choices of insurance companies, not less! CSSB 14 will limit my choices and give insurance companies yet another reason to leave the state, making it more difficult for me to find coverage to protect my home at a price I can afford.

Let me be clear, as a homeowner in this state, I have felt the strains of the current regulated system.

I realize that the old axiom “I’m from the government and I’m here to help” is often true. Regulations are well intended by the road to higher prices is paved with good intentions.

The regulations outlined in CSSB 14 will result in fewer companies entering the Texas market, and as a result, I will be left with fewer choices and higher prices because that’s what always happens when the government tries to control the price of a product like insurance. We need a long-term solution, not a quick fix.

CSSB 14 may sound good, but will set Texas homeowners up for a long-term affordability and accessibility crisis. Please support legislation that provides government oversight of the insurance companies’ financial stability and addresses consumer complaints. But we need don’t want a government-run insurance marketplace. We need more consumer choice and a healthy business environment in our state.

As soon as possible, please let me know your position on this important issue.

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