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Senate Panel Releases Insurance Recommendations

March 14th, 2008 by flanews

A senate committed organized to investigate insurance companies accused of overcharging customers released recommendations aimed at keeping the companies in check. The panel proposed 16 recommendations to the senate president. Some of the panels suggestions are already proposed in other bills being heard this legislative session. Some of the recommendations include making insurers use methods approved by the state to asses risk. The panel also wants regulator to set guidelines to keep companies from charging too much. Insurance Regulators say many Insurance companies are working with lawmakers.

Anytime that we can get the support of the legislature and the people who represent the consumers its a very positive thing for commissioner McCarty and everyone at the office works hard to ensure rates remain adequate affordable and not discriminatory, ED Domansky a spokesman with the Office of Insurance Regulation said.

One of the recommendations would require insurers to give money to state programs aimed at helping people harden their homes.

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