State Farm has a hissy fit. sues the state
Why? The Texas Department of Insurance of did something very, very simple. The TDI published rate hikes. State Farm thinks these rate hikes are 'proprietary' information, meaning they don't want the people of Texas to see how greedy they are.
An unprecedented move by the Texas Department of Insurance to publicize recent rate hikes by State Farm Insurance sparked a legal challenge from the company Tuesday over what it said was confidential information.Boo hoo.
Texas' largest insurer filed suit against the state agency seeking to protect from disclosure certain information that State Farm said could benefit its rivals in the insurance industry.
Labels: insurance, state farm, Texas Department of Insurance
posted by CouldBeTrue @ 7:49 AM
2 Comments:
There are two key words that stand out which may answer your question, why?
First, "unprecedented". You may not see the signficance and legal issues surrounding this term. However, let's say an unprecedented action involved you. Perhaps this action infringes on your constitutional/statutory/civil rights. State Farm should be applauded for standing up for those rights. Who knows, maybe in the long term this incident could involve you.
The second word, "certain" implies a great deal. To my knowledge notice of a rate hike and the impact to insureds isn't a secret. But "certain" information may be. Again, if this action involved you, I think you would want to educate yourself further on the long standing implications.
Please remember, State Farm is the largest insurer in the U.S. and Canada. They're a mutal company and rank very high on Forbes 500. I'm not sure "greedy" is the term I'd use. I'd say exceptionally responsible.
Resource, you are too funny!
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