Texas Department of Insurance sunset legislation would have made modest improvements to the status quo, but the failure of the TDI sunset bill means consumers will still be subject to the regulatory confusion they’ve suffered thought over the last decade or so.
Unless, of course, the entire Texas Department of Insurance goes away. Something similar happened in Illinois years ago, and there hasn’t been any rate regulation of homeowners’ insurance since. Homeowners there have somehow survived, and now enjoy some of the best insurance rates in the country.
It is unlikely that TDI will go away, though. The Legislature will probably be back in special session soon to extend TDI until 2011 so the sunset process can continue on then.
This post was first published by the Texas Public Policy Foundation.
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