Ethics Explorer A Guide to the Financial Interests of Elected Officials

Sen. Larry Taylor District 11 (R-Friendswood)

Industry
Insurance
Education
B.B.A., Baylor University
Spouse
Kerri
Committees
  • Select Committee on State Real Property Data Collection, Reporting,
  • Business & Commerce
  • Education (Chair)
  • Finance
  • Higher Education
Financial Statements

Sources of Income

  • Taylor is the owner of Truman Taylor Insurance Agency, an independent insurance company in Friendswood. 

  • He is chairman of the board for Texan Bank and Friendswood Capital Corporation, an industry commercial banking company. He’s also on the boards for the Foundation for Hope Village and the Bastazo Foundation.

Property

  • Residence in Friendswood valued at $352,770

Analysis

  • In 2010, a California-based ethics watchdog accused Taylor of double-dipping into his state travel and campaign accounts. Taylor said he repaid his campaign account (such repayments are not required to be reported). The Travis County district attorney's office cleared him of wrongdoing.

  • Taylor for years sat on the House Insurance Committee, which has oversight over Texas windstorm insurance policies. As of 2011 Taylor had made commissions of at least $300,000 off such policies, according to a KHOU-TV report. In 2009 he sponsored HB 4409, which gives the Texas Windstorm Insurance Association unique powers to raise rates on consumers. Critics say Taylor should recuse himself from windstorm legislation. Taylor has said all legislators know he's an insurance agent who sells windstorm policies and says he has no conflict of interest.

  • Taylor has received large campaign contributions from his industry, including the PACs operated by Farmers, State Farm and Allstate.

  • In 2015, Taylor authored SB 1628, a bill that would have set a two-year period in which an insurance claim for damages can be pursued. Critics said the bill would have protected insurance companies by making it harder to sue for damages and that Taylor should not be authoring the bill because he is an insurance company owner. Taylor told the Tribune that he’s working on behalf of consumers because insurance costs would decrease with the bill’s passage.