New Coalition Looks to Improve Affordability in Texas

The Texas Coalition for Affordable Insurance Solutions has been created as a proactive alliance of insurance providers and trade organizations committed to working with legislators, regulators, consumers and others to find public policy solutions that will improve insurance affordability and accessibility in Texas.

Beaman Floyd, director of TCAIS, said the coalition promotes a healthy, competitive market so Texans can get the best price possible for their insurance coverage and service.

“We believe that in states where insurance companies are allowed to compete for business based upon the products they offer, the prices they charge and the service they provide, consumers benefit the most,” Floyd said.

TCAIS believes any legislative and regulatory action related to insurance should be based on public policy principles which:

• promote healthy competition, so Texans can get the best price possible for their insurance coverage;
• provide greater choice of policy options, so Texans can choose insurance
• coverage that meets their needs and fits their budgets; and prevent fraud and claims abuse, so Texans don’t pay higher prices for their insurance because of others who are taking advantage of the system.

Homeowners’ insurance premiums have risen in Texas for many reasons, including increased water damage claims and mold claims, frivolous lawsuits, increased repair costs and claims abuse.

“By advocating true solutions to the underlying issues that have contributed to rate increases, we can help restore stability and confidence to the Texas insurance market,” Floyd added.

TCAIS is creating an extensive resource network, including a new Web site, (www.TCAIS.org), with information on the legislative and regulatory issues affecting insurance policyholders in the Lone Star State.