AUSTIN, Texas (AP) — Republicans easily swatted down major changes to insurance regulation in a Texas House bill that would keep the current rules and bureaucracy in place.
The bill continuing the functions of the Texas Department of Insurance passed Tuesday night on a 96-46 vote. The legislation, part of a regular review of state agencies, faces a final procedural hurdle before it can move to the Senate. Democrats offered up a variety of pro-consumer amendments.
Among them were provisions such as prior approval of rate increases, a ban on credit scoring in the underwriting of home and auto insurance and the creation of an elected insurance commissioner post. The Republican-led House shot down those proposals and kept a pro-business approach in the insurance legislation.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
