Texas Insurance Department, Department of Insurance in Texas

By: EconomyWatch   Date: 26 May 2010

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The Texas Department of Insurance regulates the insurance industry in the state. It creates favorable conditions to make insurance affordable and available to all. The department also works to impart education among consumers so that they can take well informed decisions while buying insurance.

Texas Department of Insurance: Regulating Insurance Business

The Texas Department of Insurance has the responsibility of regulating and enforcing insurance laws in the state. It verifies applications from new insurers and offers them licenses of operation. It undertakes audits to ensure that each insurance provider enjoys financial soundness to pay back consumers' claims. The Texas Department of Insurance also investigates insurance frauds and ensures legal action against those involved in it.

Texas Department of Insurance: Helping Consumers

The Texas Department of Insurance allows consumers to compare prices for auto insurance and home insurance. One can get information and quotes on insurance policies that a company sells to a new customer. Although the actual prices may differ for each individual, it helps to understand which company will offer you the best policy. Possible discounts offered by various companies are also considered while comparing policies.

The Texas Department of Insurance brings out consumer-based publications containing updates on the insurance market and information on insurance frauds and advises to help customers obtain the best dollar value. In addition, the consumer guide contains contact details, AM Best Financial Rating and a consumer complaint index for all the insurance companies.

The department has different sections, such as consumer helpline, complaint assistance, worker's compensation resolution and disaster response, to serve customers in a better way.

Texas Department of Insurance: Office of Public Insurance Counsel

The Office of Public Insurance Counsel (OPIC) is a subsidiary division within the Texas Department of Insurance. It represents the interests of consumers in insurance related matters. Its functions include:

  • Ensuring competitive and stable rates
  • Promoting awareness among consumers
  • Making insurance companies more responsible towards insurance buyers
  • Ensuring that customers receive what has been promised under the policy

    • The Office of Public Insurance Counsel offers significant information aid to consumers after emergency or natural disasters, like hurricanes. It details how to understand your cover, the procedure to file a claim and how to get claim payment from insurance companies.


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