south Carolina Insurance

Oklahoma Insurance Commissioner Carroll Fisher is the best when he said recently: “The best regulator of the insurance is the rate of consumers. For all countries are working hard for workers to deal with insurance companies, nothing It is also effective in maintaining remembered as a threat that the consumer can move to another company. ”

Texas needs to reform the insurance market owner, but not for the reasons mentioned during the recent political season.

There are reasons of high prices for homeowners: the weather, excessive and claim cost increases.

We can not change, Texas time. We will always be wind, hail, tornadoes, hurricanes and tropical storms. But judicial concerning risks to never product prices are another thing.

We all pay more for our insurance because of litigation and insurance fraud. That is why efforts to stiffen penalties for filing complaints frivolen mold and standards for sanitation are so important.

For years, Texas, owners were required to buy a single policy for the broadest coverage in the country. This insurance has instructed the government forced high prices for all consumers.

Some politicians have called for more regulation of insurance rates for the adoption of lower premiums. This principled position does not solve the problem of rising costs claim. Attitude arbitrary price, specifying costs and forcing insurers to the activity is not to protect the owners of Texas.

The worst insurance market in the country, New Jersey, offers an illustration of cooling, what can happen if laborious on regulation and stifles competition.

During the last decade, 20 self-insurers have left New Jersey, refused their businesses there, primarily because of the repressive regime of a system of domination over the competition.

Compared with the rest of the country, New Jersey, as a general rule, drivers pay rates are higher, have much less choice and have virtually no competitive prices for auto insurance.

Four of the six largest automobile insurance in the country not to write business in New Jersey. Twenty auto insurers have left New Jersey in the last 10 years.

Texas insurers have reported extraordinary owner of the insurance losses of water claims, five have increased over the last 18 months. Despite the fact that Texas has the highest rate of owners, insurers have sustained above $ 3.1 billion in losses between 1988 and 2000.

To be sure that insurers can deliver on their promise to pay the fees that are in the future, they receive today that premiums are reasonable.

A recent study by Southern Methodist University in Texas on insurance problems noted that improving the regulation of prices and “fixation” is even worse. Consumers benefit, the report said that if insurers are able to restrict competition in the field of politics tax rates and language as “which means”. Evidence from other states such as Illinois and South Carolina, indicate that the modernization of markets is the best medicine.

The South Carolina General Assembly passed a reform of auto insurance measure in 1997, with some spectacular results. After years of order in the middle of the pack, a comparison of the average expenditure of automobile insurance in the country, South Carolina 38 ranking among the 50 states of the nation-state for configuring Auto insurance during 1999.

The new law encourages greater competition in the market for auto insurance by reducing restrictions, which are products insurers could offer consumers and allowing them to these products at reasonable prices. According to the South Carolina Department of Insurance, the number of automobiles by insurers writing business in this country has increased considerably between 1996 and 2000. While only 74 insurers 1996 was the activity in South Carolina. This figure rose to 156 in 2000. (This corresponds to an increase of 111 percent in the number of auto insurance companies in the state).

In South Carolina, prices are competitive, there is a spirit of cooperation with the regulatory authorities and companies are able to maintain a profit margin. Therefore, companies are clamoring for the state, is not leaving the state.

The Texas Coalition for Affordable Insurance Solutions (www.tcais.org), supported by the large insurer States, a plan to promote a stable legal environment. This approach is, companies
Competition for Texans business and offer a wide selection of the scope of the best prices.

Solve Texas’ problems with insurance is at hand. Let’s offer consumers greater flexibility in coverage, not less. Free competition in the market is and remains the best way to increase the availability and produce the lowest price.