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Statement on State Farm's Suit Against the Texas Department of Insurance
Today, it was reported that State Farm Insurance filed a lawsuit against the Texas Department of Insurance to stop the online posting of the company's public information detailing State Farm's plans to raise its rates on Texas homeowners. Representatives Coleman, Dunnam, Farrar and Gallego issued the following statement in response:
"State Farm covers 30% of the homeowners insurance market in Texas. Instead of worrying about the impact of drastically hiking rates on their customers, they are worried about their competitors and the public learning the true motivation behind those hikes. Rate filings are public information, and we applaud TDI for taking steps like this to bring transparency to the process and put pressure on State Farm. This is one more reason why TDI sunset legislation should be one of the top priorities next session. We will join with our Democratic colleagues from across the state to once again file legislation that will give TDI the tools they need to stop these egregious hikes and better advocate on behalf of consumers."
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