From the Office of State Senator Rodney Ellis
For Immediate Release
April 17, 2002
Contact: Mike Lavigne, (512) 463-0113
Insurance Advisory Committee Met in Houston
Senator Rodney Ellis and Bill Goodman, a litigator for the Insurance Commission, listen to public testimony at the Small Face Amount Life Insurance Working Group meeting in Houston
Houston- The Small Face Amount Life Insurance Working Group met Wednesday, April 17, 2002 in the Council Chambers at City Hall in Houston. The working group had a business meeting from 9:00 until 12:00. After a lunch break, they reconvened at 1:30 p.m. to hear public testimony. Both sessions were open to the public.
In attendance were Texas Insurance Commissioner Jose Montemayor, Senator Rodney Ellis, and Representative Helen Giddings. Also participating in the meeting were representatives from consumer groups, civil rights organizations, and the insurance industry.
Public Testimony provided resulted in many compelling stories of those who have paid as much as three times the face value of their life insurance policies.
The group also examined the results of the survey that was sent out after the February meeting, and other issues related to gathering data about upside-down pricing on small face insurance policies. A follow up survey will be sent our shortly.