TX OPIC Saved $3M, Reviewed 1,350 Filings in FY 2024
Summary
The Texas Office of the Public Insurance Counsel (TX OPIC) released its fiscal year 2024 achievements summary covering September 2023 through August 2024. TX OPIC reviewed nearly 1,350 insurance rate and policy form filings with the Texas Department of Insurance and saved Texas consumers over $3 million by limiting premium increases and obtaining refunds, generating a return of more than $2 for every $1 of its budget. The agency also prevented reductions in auto and residential property insurance coverage, resulting in over 200 policy form changes, and provided consumer resources following Hurricane Beryl's July 8, 2024 landfall.
“We saved Texas consumers over $3 million by limiting premium increases and obtaining refunds.”
About this source
GovPing monitors TX OPIC News for new insurance regulatory changes. Every update since tracking began is archived, classified, and available as free RSS or email alerts — 3 changes logged to date.
What changed
TX OPIC published its annual accomplishments report for fiscal year 2024, detailing consumer savings and regulatory oversight activities conducted between September 2023 and August 2024. The agency reviewed 1,350 insurance rate and policy form filings and generated over $3 million in consumer savings through premium limitations and refunds. Additionally, OPIC reviews resulted in more than 200 changes to residential property and auto insurance policies intended to improve transparency and consumer protection.
Insurers filing rates and policy forms with the Texas Department of Insurance should be aware that TX OPIC actively reviews these filings and advocates for consumer interests, potentially influencing approved policy language and premium levels. The agency achieved measurable consumer outcomes, including limiting coverage reductions and securing refunds, demonstrating active participation in the regulatory process on behalf of Texas insurance consumers.
Archived snapshot
Apr 22, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
OPIC’s 2024 Achievements
Auto, Flood, Health, Homepage, News, Residential Property
OPIC has worked hard for consumers throughout the 2024 fiscal year (Sep. 2023 through Aug. 2024). Over the last 12 months, we reviewed almost 1,350 insurance rate and policy forms filed with the Texas Department of Insurance. We saved Texas consumers over $3 million by limiting premium increases and obtaining refunds. Indeed, for every $1 provided to OPIC’s budget for the purpose of representing Texas insurance consumers on rate and form issues, we saved Texans more than $2. We are a small agency, but we did important things in 2024.
saved for consumers
rate and form filings reviewed
Here are some of our biggest achievements of 2024:
Prevented Reductions in Coverage
OPIC has worked diligently to prevent reductions in coverage on auto and residential property policies. OPIC reviews hundreds of insurance policy forms every year. In FY 2024, these reviews generated over 200 changes to residential property and auto insurance policies that ensured better transparency, and increased protection for Texas consumers.
Help After Disasters
Soon after Hurricane Beryl made landfall on the Texas coast on July 8, 2024, OPIC created a webpage dedicated to providing resources and information for Texans impacted by the storm.
https://www.opic.texas.gov/news/hurricane-beryl/
OPIC worked with the Texas office of AARP to record a Q&A presentation with tips on “Filing a Claim After a Storm”, which AARP posted on their Facebook page. The presentation was intended to assist Texas consumers that were impacted by Hurricane Beryl in better understanding insurance claims and the recovery process.
Reached over 4.7 million Texans via our social media channels (Facebook and X) and website.
Related changes
Get daily alerts for TX OPIC News
Daily digest delivered to your inbox.
Free. Unsubscribe anytime.
About this page
Every important government, regulator, and court update from around the world. One place. Real-time. Free. Our mission
Source document text, dates, docket IDs, and authority are extracted directly from TX OPIC.
The summary, classification, recommended actions, deadlines, and penalty information are AI-generated from the original text and may contain errors. Always verify against the source document.
Classification
Who this affects
Taxonomy
Browse Categories
Get alerts for this source
We'll email you when TX OPIC News publishes new changes.
Subscribed!
Optional. Filters your digest to exactly the updates that matter to you.