Julie Drenner is the Texas Director of The Heartland Institute's Center on Finance, Insurance and Real Estate. As an attorney and political strategist, Julie Drenner promotes sound public policy by shepherding issues ranging from legal reform to public health through the legislative process. Known for her attention to detail, Julie drafted more than 20 pieces of state legislation and testified in numerous hearings during the past four legislative sessions. CNN, the Los Angeles Times, News Austin 8, KLBJ, and the Dallas Morning News have interviewed and quoted her statements at key times regarding bills under consideration.

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Julie Drenner

Vote for the Tightwads!

If you are going to the polls still undecided, look at the personal spending habits of the candidates on the ballot. How people spend their own money is a good indication of how they will spend the taxpayers’ money as well.

Find a candidate that has built a successful business without debt or has managed investments wisely. It does not matter if the candidate is personally wealthy or not, just the manner in which they use their resources. If candidates accumulate massive amounts of personal debt, they will not see a problem with the government doing the same.

On the other hand, if they pay their bills on time and live responsibly, they will expect no less from the state. So, no matter the political party, vote for the tightwads!

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TWIA Puts Texas Taxpayers in Jeopardy

In order to protect coastal residents, the Texas Windstorm Insurance Association (TWIA) rates must be actuarially sound. TWIA’s rates are woefully inadequate, and it cannot cover all of its liabilities if the coast was unfortunate enough to sustain two major events this year.

During last session, lawmakers put a band-aid on the funding problem. Instead of buying reinsurance, the law now requires a formula of bond sales, assessments, and payments from the bankrupt Catastrophe Reserve Trust Fund to cover losses by coastal customers. Because TWIA is a quasi-state agency, the taxpayers will end up paying the balance once this funding runs out.

By charging artificially reduced rates, TWIA not only puts its customers in jeopardy, but all of Texas taxpayers as well.

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Campaign Issue: Texas Homeowner Rates

Homeowners’ insurance rates have increased, as stated by the Back to Basics PAC video.  However, the 76% increase is attributable to a myriad of factors.

Since Rick Perry has been in office almost a decade, pure inflation can account for almost half of the rate increase.  Homeowners policies are meant to cover the cost to replace the structure and its contents.  As material and labor cost rise, premiums will correspond to the additional resources required to rebuild.  Inflation in building costs alone significantly impact insurance rates over time. [click to continue…]

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