Tag Archives: Texas Department of Insurance

Texas Insurance Commissioner to Step Down

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Texas Insurance Commissioner Mike Geeslin has been with the Texas Department of Insurance for eight years now; serving as commissioner for five and a half—however; he recently announced that he will not be seeking another term as head of the TDI.TDI Commissioner - Mike Gleesin

Geeslin’s term ends on February 1st, 2011. He was originally appointed to the commissioner post by Governor Rick Perry, back in June 2005; just months before hurricanes Katrina and Rita struck the Texas coast.

Geeslin, who began his commitment by serving as Deputy Commissioner for Policy at the Texas Department of Insurance in 2003, found himself not only supervising one of the largest insurance markets in the nation, but also directing recovery efforts throughout the state after both hurricanes ravaged the coastline.

One of Geeslin’s most influential accomplishments includes the complete overhaul of the Texas workers compensation system, which was started in September 2005.

According to Insurance Journal, less than a year after the hurricane catastrophes, “Geeslin was then faced with placing one of Texas’ largest homeowners insurers, Vesta Texas Select, into rehabilitation and then liquidation”.

Since Geeslin took over the commissioner’s office in 2005 dramatic improvements have been made to the Texas insurance market. Insurance Journal reported that, the state’s market has “grown from $78 billion to $102 billion, one of the largest in the United States and among the top ten in the world”.

The commissioner’s job certainly is not an easy one—yet Geeslin gained the respect he deserves from insurance industry representatives during his tenure. In a letter written to the Governor, Geeslin stated that his decision to leave was based on many reasons, the most important being his family, in addition to the “simple realization that it is time for someone else to lead”.  

All of us at Dagley Insurance are thankful for Geeslin’s continued dedication and commitment to the Texas insurance industry and we wish him the best in all of his future endeavors.

For a complete look at the Insurance Journal article and a comprehensive list of the Commissioner’s historic accomplishments, click here.

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Texas Reports 3rd Year Decline of Private Employer Jobsite Injuries

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The Texas Department of Insurance, Division of Workers’ Compensation (TDI-DWC) recently reported that Texas has entered its third straight year of declining jobsite injuries and illness.

Statistics show there were 213,507 total cases of nonfatal injuries and illnesses in 2009, which occurred during the workday. Of those, 60,240 occurred at private industry employers. According to Insurance Journal this is a 6.9% decrease from the 64,700 private industry cases reported in 2008 and the 69,320 nonfatal injuries and illnesses reported in 2007.

The survey also revealed that there were roughly 81 injuries and illnesses per 10,000 full-time equivalent employees in Texas in 2009. This rate was 4% lower than the nearly 84 cases in 2008. Additionally, the Texas statistic is lower than the national rate of 117 reported jobsite injuries per 10,000 employees.

When injuries or illness did occur, Texans spent an average of 8 days away from work —which acts as a key measure of the severity of injuries and illnesses. All of the facts and figures are based on data from the Bureau of Labor Statistics (BLS) Survey of Occupational Injuries and Illnesses.

The latest reports are a strong reminder for both employers and employees about the importance of a reliable Texas Workers Compensation plan. In the unfortunate case that jobsite accidents occur, it is vital that employers—both private and public—take the necessary precautions and secure effective Workers Compensation coverage.

For more information, a free TX Workers Compensation quote and a review of your current policy visit Dagley Insurance today, one of our dedicated agents would be happy to assist you!

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Texas Department of Insurance: Top 5 Resources

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The Texas Department of Insurance is a great resource both for the consumer and the agent. Below you will find a series of the TDI’s top 5 links that will bring you to some of their favorite, and most utilized, pages—including agency Information, general TX insurance resources, the State Fire Marshal’s office and updated TX workers compensation regulations. 

 

  1. Texas Depart of Insurance – Homepage: From interactive consumer help to a comprehensive look at the Department’s major news headlines, the TDI Homepage provides a well-rounded wealth of information for both the insurance agent and the consumer.
  2. Auto Insurance Comparison: Complete your “Driver Profile” to receive sample insurance rates. This free service provided by the TDI is a great way to help ensure that Texans are doing the research necessary before settling on a TX auto insurance policy.
  3. Homeowners Insurance Comparison: Complete your “Homeowner/Condo/Renter Profile” to receive sample insurance rates. Adjust your sample rates by entering information regarding the policy limits and requirements that you want.
  4. Workers Compensation Forms Page: The TDI has provided a “Form Developer Kit” which allows stakeholders and TDI customers to access or create all of their own, customized insurance forms—from Agreement Forms, Carrier Forms and Employee Forms; the TDI has it all in one central place.
  5. State Fire Marshal – Homepage: The State Fire Marshal Homepage contains a variety of helpful resources for the consumer. Anything from Arson Investigations, Firefighter News, and all of the Fire Marshal’s Announcements can be accessed here. Stay up-to-date on fire prevention while perusing the Fire Marshal’s advice and tips.

The Texas Department of Insurance has many more excellent insurance resources, so take a few minutes to access the information that it has to offer.

While you’re at it, why not check out Texas’ leading independent agency—Dagley Insurance—for great rates and superior TX insurance coverage!

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Holiday Traffic Alert: Uninsured Motorist Accidents Top 10,000 in Texas

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This year’s accident reports reveal that approximately 10,000 insured Texas drivers have been involved in car accidents with uninsured motorists.  

In a recent press release TexasSure, the vehicle verification database led by the Texas Department of Insurance, stated that, “one out of every five vehicles on Texas roads is uninsured”.

As the holiday season is in full swing, the festivities also bring hundreds of thousands of Texans to the roads. With drivers hitting the highways this week for the Thanksgiving holiday, it’s vital that each is prepared and has reliable Texas auto insurance.

Below are some great holiday traffic tips, from ABC 13, to keep you and your loved ones safe during this high traffic and high travel season:

1. Drive Defensively: The number of uninsured drivers on the road leads to the unpredictability of accidents and their outcomes.

2. Focus on the road: Put down the cell phone, make-up and food while driving; avoid distractions and multi-tasking because it only increases the chances of being in an accident.

3. Slow Down: Speeding is one of the top causes of auto accidents; obey the speed limit and be conscious of those around you. Don’t feel pressured to increase your speed due to tailgating nor should you weave in and out of traffic pressuring others.

4. Look Around:  Pay attention to the drivers around you; make sure you keep a safe distance between your vehicle and the car in front of you; leave accurate space in case you must make an unexpected, abrupt stop.

5. Get Covered: This may be the most important of all—don’t be that risky uninsured driver! Review your auto policy if needed and make sure you have the appropriate coverage.

There are a variety of Texas auto policies available with varying degrees of protection. Bodily Injury Coverage helps pay for any medical expenses you may obtain due to an auto accident with an uninsured driver. Property Damage Coverage takes it one step further and helps pay for damages to your vehicle caused by an uninsured motorist.

Interested in reviewing your coverage or getting an updated Texas auto insurance quote? Visit Dagley Insurance now—don’t risk the health and safety of your loved ones this holiday season, protect yourself from accidents and uninsured motorists!

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Texas Department of Insurance Homebuyers Resources

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One of the best resources available for researching insurance rates and information is the Texas Department of Insurance (TDI) website. One of the most useful parts of the site is a page dedicated to helping prospective and current homeowners research insurance companies while providing valuable financial and Texas homeowners lending statistics.

According to the website the Texas Department of Insurance lists five purposes for its existence (according to Texas Insurance Code 2251.001):

  • Promote the public welfare by regulating insurance rates to prohibit excessive, inadequate, or unfairly discriminatory rates
  • Promote the availability of insurance
  • Promote price competition among insurers to provide rates and premiums that are responsive to competitive market conditions
  • Prohibit price-fixing agreements and o

    ther anticompetitive behavior by insurers

  • Provide regulatory procedures for the maintenance of appropriate information reporting systems.

Texas homeowners insurance can be a complicated issue, so the TDI provides explanations of: How Regulation Works, Homeowners Loss Data, Homeowners Premium Data and even Recent Homeowner Rate Changes so you can follow the constantly changing rate changes from the top companies selling homeowners insurance.

Once the research is done, homeowners can start going forward with the home buying process. A future post will look at some of the of the TDI’s Homeowners & Residential Property Insurance resources including the Stormlink, consumer complaint information and a list of inspectors available to the people of Texas.

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