Episode Transcript
The insurance industry is pushing back because rate hikes have
various factors.
Speaker 2 (00:04):
It's been the economy and inflation, but it's also been
insured losses. Insurance companies have incurred tremendous amount of losses
over the last couple of years.
Speaker 1 (00:12):
Richard Johnson of the Insurance Council of Texas's home demand
also causes fluctuation. In California did something similar.
Speaker 2 (00:19):
Value of property skyrocket and got to a point where
insurance companies couldn't even do business there and less companies
were in the state, so therefore less competitiveness and rates
even went higher.
Speaker 1 (00:29):
He says this would restrict Texas from being a true
free market. Andrea Parard News Radio seven forty KTRH
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