Texas Senator asks insurance commissioner to lower housing rates

Senator John Carona (Republican-Texas) is pushing for legislation to “achieve lower [housing] rates in this state.”

Texas, along with Florida and Louisiana, have the most expensive housing insurance rates in the country. Carona, who chairs the Senate Business and Commerce committee, said businesses should strive to “offer something to consumers that at least gives them the opportunity, albeit for less coverage, to be able to pay less.”

Texas Insurance Commissioner Julia Rathberger said an effective way to accomplish this would be to encourage competition among insurance companies.

“Where we’ve seen lowering of rates, it’s because of competition,” she said as quoted in a Claims Journal article.

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