Dis­cre­tionary clauses ban as­sessed

Austin American-Statesman - - LOCALBRIEFING -

The Texas In­surance Com­mis­sion heard tes­ti­mony Mon­day on dis­cre­tionary clauses.

Pub­lic com­ment will be ac­cepted through Fri­day.

The clauses, which of­ten ex­ist in dis­abil­ity, life, ac­ci­dent and health poli­cies, give in­surance com­pa­nies the sole author­ity to in­ter­pret the terms of their poli­cies.

The clauses make it eas­ier for in­surance com­pa­nies to deny ben­e­fits to some pol­i­cy­hold­ers.

Com­mis­sioner Mike Geeslin, who was ab­sent from the hear­ing, will de­cide in the com­ing weeks or months whether Texas will join sev­eral other states in ban­ning the clauses.

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