POA Considers Creation of Insurance Company for Homeowner, Auto and Other Lines of Insurance

According to Melinda Ballard, founder of the non-profit association Policyholders of America (POA), which has been a thorn in the side of the insurance industry in Texas since its creation in early 2002, that organization is in the process of creating its own insurance company. Yes, an organization admittedly founded on a disenchantment with and scorn of insurance companies may soon operate as one itself.

According to Ballard, POA now has nearly 1 million members and has been approached by several Wall Street firms to create an insurance company to sell various commercial lines, including homeowners and auto insurance. …