Tag: Texas department of insurance

Health insurance scams are targeting consumers in Texas

Nordstrom
Texas health Insurance companies

Texas consumers are facing a new wave of scams that could leave them exposed to risks Low-income individuals living in Texas are being targeted by scams that seek to profit off their enrollment in the state’s health insurance exchange, as well as enrollment in HealthCare.gov. Enroll America, a non-profit organization offering free information concerning the enrollment process, has noted that there has been an increase in the sales tactics used to target low-income consumers. The organization suggests that many of these practices could actually be illegal as scammers are charging…

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Homeowners insurance rates in Texas are set to spike yet again

Marc
homeowners insurance rates increase

Homeowners in Texas will see an increase in their insurance premiums next year Residents of Texas are seeing their homeowners insurance premiums grow. The state is home to the third highest homeowners insurance rates in the United States, with the average annual premium being $1,745. The Texas Department of Insurance notes that these premiums have grown by more than 26% between 2010 and 2014. Only Florida and Louisiana have higher homeowners insurance premiums, on average. For some homeowners, premiums are growing by a greater margin than what others are seeing.…

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Farmers reaches settlement in homeowners insurance case

S.Vagus
Texas Homeowners Insurance

Insurer finalizes a settlement for a lawsuit that it has been fighting since 2002 Many Texas residents may receive refunds from Farmers Insurance Group as the company has reached a settlement in a lawsuit from 2002. The lawsuit involves policyholders paying higher premiums for less coverage, and state regulators found that this had been the case after examining many complaints issued against the company. The insurer will be paying $84.4 million per the settlement, which will be issued to policyholders that are eligible for refunds from the company. State regulators…

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The majority of insurance companies aren’t transparency law compliant

Julie Campbell
Texas health Insurance companies

Texas has become unable to determine whether or not the plans are meeting the needs of consumers. Texas recently implemented a new regulation for health insurance companies that required them to have to submit reports to the state Department of Insurance in order to help to protect consumers against unfairly high medical bills, but many insurers have been ignoring this requirement, so far. At the same time, officials in the state haven’t done very much to help to improve compliance. Under the new regulations, insurance companies are supposed to be…

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Health insurance companies may not be complying with Texas regulations

S.Vagus
Texas health Insurance companies

Some insurers may be ignoring state regulations regarding transparency Many health insurance companies in Texas may not be complying with the state’s new regulations regarding transparency. The regulations require insurers to submit regular reports to the Texas Department of Insurance, detailing information concerning their health care networks. When insurers do not file reports, or if these reports are inadequate, state regulators are meant to take action, but public records have shown that this rarely happens. As such, many insurers may be circumventing regulations and avoiding regulators entirely. Small number of…

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