Slam-dunked. New law forces insurance carriers to reduce rates.
No one saw it coming. Not consumer groups, not business or special interest groups, and especially not insurance carriers. The Texas Legislature did something this session no legislature had ever done, experts say. It ordered insurance carriers to cut premiums in practically all insurance lines, and for physicians, this will mean a 10% reduction in medical professional liability premiums effective January 1, 1996. Hospitals will see a 13% cut.
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D007343:Insurance Carriers / Q000191:economics* / Q000331:legislation & jurisprudence*; D007351:Insurance, Liability / Q000191:economics*; D013781:Texas