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Casualty Actuary SocietyCasualty Actuary Society New Orleans, LouisianaNew Orleans, Louisiana
November 11, 2003November 11, 2003
C30:Texas HomeownersC30:Texas Homeowners
Ronald H. CobbRonald H. Cobb
American Insurance AssociationAmerican Insurance Association
Batten Down the Hatches . . . Storm Batten Down the Hatches . . . Storm Clouds on the HorizonClouds on the Horizon
2001 Legislative Session2001 Legislative Session Preparing for 2003Preparing for 2003
TCAIS (Texas Coalition for TCAIS (Texas Coalition for Affordable Insurance Solutions)Affordable Insurance Solutions)
www.tcais.orgwww.tcais.org
Principles and SolutionsPrinciples and Solutions If adopted, these principles would lead to increased coverage choices for If adopted, these principles would lead to increased coverage choices for
consumers and a more competitive market in Texas. The result would be consumers and a more competitive market in Texas. The result would be more meaningful choices of different products and prices, and more ability more meaningful choices of different products and prices, and more ability for insurance companies to respond to market conditions. New discounts for insurance companies to respond to market conditions. New discounts could be readily developed and offered, and consumer demand could could be readily developed and offered, and consumer demand could dictate innovation. Solid regulatory and legislative oversight of the market dictate innovation. Solid regulatory and legislative oversight of the market would ensure that consumers benefit from these proposed changes. would ensure that consumers benefit from these proposed changes.
STATE AUTHORITY OVER RATES AND RULE MANUALSSTATE AUTHORITY OVER RATES AND RULE MANUALS STATE AUTHORITY OVER POLICY FORMSSTATE AUTHORITY OVER POLICY FORMS STATE AUTHORITY OVER SOLVENCYSTATE AUTHORITY OVER SOLVENCY STATE AUTHORITY OVER MARKET CONDUCTSTATE AUTHORITY OVER MARKET CONDUCT STATE AUTHORITY OVER ACCESSIBILITYSTATE AUTHORITY OVER ACCESSIBILITY STATE AUTHORITY OVER CONSUMER PROTECTIONSSTATE AUTHORITY OVER CONSUMER PROTECTIONS STATE LEGISLATIVE OVERSIGHTSTATE LEGISLATIVE OVERSIGHT
2003 Legislative 2003 Legislative SessionSession
ResultsResults HOHO AutoAuto Rating LawRating Law
What’s AheadWhat’s Ahead Post Legislative Underwriting ToolsPost Legislative Underwriting Tools
Approved for use in place of dart board and Approved for use in place of dart board and blindfolds.blindfolds.
““Clean often, store in a warm dry place.”Clean often, store in a warm dry place.”
“Indicated results from use of dice are actuarially sound”
Next Next CrisisCrisis