The Texas Department of Insurance this week launched a tool that allows residents to see reasons for why insurance companies decline, non-renew or cancel home and auto insurance policies.
The webpage lets users review declination, non-renew and cancellations notices by choosing from a reporting period, ZIP code and policy type.
The page also includes the number of active policies and the counts of nonrenewals, cancellations, and declinations reported by companies.
Through June, TDI has uploaded more than 350,000 notices into the data system.
This new tool puts more information directly in consumers’ hands and advances our commitment to greater transparency across the Texas insurance market,” said Insurance Commissioner Amanda Crawford.
TDI will update the at least quarterly, the department said. TDI plans to expand the resource later this year with auto insights.
The transparency tool was developed following the passage of House Bill 2067 last year, which requires insurance companies to report this information to TDI and provide written explanations when they decline, cancel, or don’t renew a home insurance policy.
Topics Carriers