Texas Windstorm Insurance Association Votes No On Rate Increase
The Southside Light News
Galveston—Texas coastal residents have won the TWIA rate increase battle, at least for now. The Texas Windstorm Insurance Association had been considering a rate hike that would have put rates at nearly an all time record. However, due to the efforts of area business and civic leaders led by State Representative Todd Hunter, the motion to increase was defeated by the board in a 5-3 vote.
The board heard public comment which included city council members from Corpus Christi, business leaders and others concerned parties who traveled here to Galveston for today’s meeting. Also speaking their minds were delegates from all over the Texas Coast who objected to the idea of paying more for less.
Prior to open public comment, TWIA said that they had received approximately 1,100 emails during the two-week public comment that ended on July 31. The board also agreed to allow those emails to be released as public record.
““It’s a great victory for the coast. No TWIA rate hike for 2020. Excellent work by coastal legislators, staff and our communities,” State Representative Todd Hunter told The Southside Light moments after the Board made their announcement.
However, the victory is likely only a reprieve from battle. Texas law says that the Association does have proposed rate changes filed with the Texas Department of Insurance by Aug. 15. The Board could even take up the matter again when they meet at the Omni hotel in Corpus Christi in December.