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Article: Texas Insurance Department Hopes to Keep Firm from Leaving Homeowners Market.
- Article from:
- Austin American-Statesman (Austin, TX)
- Article date:
- September 24, 2002
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Copyright informationCOPYRIGHT 2002 Austin American-Statesman. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Claudia Grisales
Sep. 24--The Texas Department of Insurance proposed a settlement with Farmers Insurance on Monday in an attempt to keep the state's second-largest insurer from exiting the homeowners market.
Last week, Farmers said it was considering getting out of the home insurance market in Texas because of a dispute with regulators about its pricing policies. The Insurance Department has ordered Farmers to change what it claims are illegal pricing practices by Oct. 1 or face mounting fines and the possible revocation of its license.
On Monday, the department sent Farmers officials a proposed outline for a settlement that would keep ...
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