Hearing on the use of Arbitration with the Texas Department of Insurance Companies
Texas insurance companies have asked the Texas Department of Insurance to allow them to entice consumers with mandatory binding arbitration in exchange for a discount on their premiums. Instead of focusing their limited resources on lowering record high premiums for homeowners, the TDI will focus on helping the insurance industry prey upon consumers looking for a break.
Selecting an alternative dispute resolution is a legal matter and should be performed only after consulting with an attorney. Consumers should not make this decision and the TDI should not allow the industry to prey upon those who are looking for a reduction in premiums.
Location: William P. Hobby Jr. State Office Building 333 Guadalupe, Room 100 Austin, TX
July 06, 2016 9:30 a.m. – 5:00 p.m.
The commissioner of insurance will hold a public meeting to receive written and oral comments relating to mandatory mediation-arbitration endorsements. The endorsement would be attached to a homeowners policy at the policyholder’s option, with a premium discount.
If you wish to provide written comments, please provide two copies no later than 5 p.m., Central time, July 6, 2016. Send one copy by email to firstname.lastname@example.org, or by mail to the Texas Department of Insurance, Office of the Chief Clerk, Mail Code 113-2A, P.O. Box 149104, Austin, Texas 78714-9104. Send the other copy to Marilyn Hamilton by email at email@example.com, or by mail to the Texas Department of Insurance, Property and Casualty Lines Office, Mail Code 104-PC, P.O. Box 149104, Austin, Texas 78714-9104.