Texans Still Pay Too Much for Their Insurance
by Peter Stern
Governor Perry is still toying with Texans and their hard-earned dollars.
No offense to Eleanor Kitzman, but she is a ridiculous choice. This is more of Perry’s political wizardry.
Why not hire someone here in Texas from within the Texas Department of Insurance, someone with first-hand knowledge of Texas Insurance and the current market ?
Perry says that insurance rates are fair in Texas. Well, insurance rates may be fair, but costs are not. How absurd. Texas homeowners pay the 2nd highest insurance costs [after Florida] than anywhere in the U.S.
In fact, approximately 5 years ago costs for homeowners doubled overnight when the insurance industry wanted to compensate for the previous soft market years, as Perry and legislators looked the other way.
Former Insurance Commissioners Jose Montemayor and now Geeslin, his former Deputy Commissioner, left the TDI without making any attempt to reduce astronomical insurance costs to some sort of normalcy, a.k.a., a fair cost, a balanced market.
Currently, insurance costs in Texas are lopsided in favor of the industry, which always has been one of Perry's staunchest contributory supporters. You send money to Perry, he listens to your needs and keeps the status quo for you.
Furthermore, insurance in South Carolina does not mirror the insurance industry here in Texas.
Chances are that Ms. Kitzman was selected by Perry not so much for her experience as for some other perhaps more special interest reason by the governor. It wouldn't be the first time Perry rewards his favorite constituents.
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See Austin Statesman article on Perry’s selection: http://www.statesman.com/blogs/content/shared-gen/blogs/austin/politics/entries/2011/07/20/perry_to_appoint_new_insurance.html
Wednesday, July 20, 2011
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