Senator Calls Texas Mutual's Proposal to Privatize 'Theft'

A member of the Texas Senate’s Committee on State Affairs expressed pointed skepticism Monday about Texas Mutual Insurance Company’s latest attempt to become an entirely private entity, even telling the insurer’s president that its proposal for privatization amounted to “theft of state property.” The committee met Monday morning to discuss "interim charges" – issues the committee studies during the Legislature’s even-numbered “off” years. Texas Mutual President and CEO Richard Gergasko said a move to full privatization would ...