Bill to Give Guaranty Association New Flexibility Passes Senate

A bill that passed the state Senate would give the Texas Property and Casualty Insurance Guaranty Association a little more speed and flexibility in dealing with insolvent insurance carriers. Senate Bill 1063, sponsored by state Sen. Kelly Hancock, R-North Richland Hills, would bring the association, which handles claims for insolvent workers' compensation carriers, in line with other state insurance guaranty associations, according to an analysis of the bill. The bill passed the Senate 31-0 last week and has been assigned to the House Insurance Committee. If passed and signed b...