Lawmakers in Texas voted to extend the longevity of the state’s Department of Insurance. The department will also enjoy more authority over the insurance industry and will be able to impose stricter penalties when companies challenge the agency’s rate assertions and lose. The relevance of the Department had been debated for some time before a decision was reached Monday. Many legislators say that the ruling was long overdue. According to…

The Senate of Texas has passed a new insurance bill that has been the subject of a great amount of controversy. The bill will extend the life of the Texas Department of Insurance and will impose stricter guidelines on the agency itself. Previous to the bill’s passage, a number of amendments were proposed to make the legislation more consumer friendly. Each amendment was rejected, however, as they were deemed unfruitful…