Texas insurance bill promises transparency

Texas is making a move to ensure the transparency of the state’s insurance industry. Legislators are toiling over a bill, dubbed the Texas Insurance Awareness and Affordability Act, which will require insurers to provide exhaustive information regarding any changes in policies. There have been growing concerns about how insurers determine their rate hikes recently, driving demand for more transparency. The bill is seeking to garner explanations on proposed premium increases in a language that everyone can understand. State insurers would be requires, upon changes in policy, to provide a side-by-side…

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