I have several questions about insurance premiums following a natural disaster. Can a state agency use its massive buying power to negotiate better insurance rates for the entirety of the state or even a small number of homes (that would be in a state funded disaster recovery program)?
My next question is; would the Department of Insurance (Texas) be a willing partner to create a negotiated rate for homes rebuilt after a disaster for low income households?
I understand that none of this may be possible and even legal, as the state cannot steal the right of the homeowner to choose certain providers, but I'm am doing some research into this for a memorandum I am putting together.
Please let me know if you have any thoughts.