January 08, 2007

Homeowners still get fucked

Bay Area Houston and Muse are both on the case of The Missing Homeowners Insurance Coverage. Basically, even though there's been an assload of lawsuit reform in Texas, insurance rates have not gone down. Which isn't really news to me. Neither is losing coverage. Of course, the gutless Texas Dept. of Insurance, which is run by Republicans, isn't about to piss off the people who donate so much to Republicans. Instead, they'll make excuses for the inability of the companies to properly manage their business.

We lose coverage, our rates remain the same (highest in the nation). We lose the ability to sue, our rates remain the same (highest in the nation). We have the easiest legal environment of any state and still our rates remain the highest in the nation.

When WILL the Republicans learn than regulatory bodies without teeth are useless and that companies will get away with whatever they can in the absence of real penalties? Don't even get me started on how inefficient private enterprise can be when people aren't allowed to take them to court.

What has happened in Texas should be a cautionary tale for the rest of the nation. Don't believe the lawsuit reform bullshit. We did and now corporations have more power in Texas than policyholders.

Posted by mcblogger at January 8, 2007 09:20 AM

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