Texas insurance commissioner to depart

Texas Insurance Commissioner Mike Geeslin plans to step down when his term ends Feb. 1. Geeslin sent a letter to the governor asking that he not be reappointed.

"It just seems to be the right time to transition and step aside and let someone else lead," said Geeslin, who has had the job for five and a half years. He said he hasn't decided what he'll do next.

Geeslin oversaw the state insurance market as it went through legislative reforms that deregulated much of the home insurance industry and sought to steady the market after mold claims sent premiums soaring. A rate dispute with State Farm, however, remains unresolved. Also, windstorm insurance has become more expensive along the coast since hurricanes battered the area.