Controversial TWIA Committee Passes The Buck And Potentially The Blame On Rate Hike Issue




Jason Neal 
Austin Bureau Chief/State Affairs 
The Southside Light News

Austin—In what was stereotypical “pass the blame, pass the buck” politics on Thursday as the Actuarial & Underwriting Committee of the Texas Windstorm Insurance Association met in Austin to consider recommending a possible rate hike for policyholders who live on the Texas coast. 

 The Committee decided to take the safe route and direct TWIA staff to review issues raised by the Committee during the meeting and provide written comments to the Committee in order to allow it to meet again in time to formulate a recommendation to the TWIA Board to be considered at its December 10 quarterly meeting in Corpus Christi. 

At this time, there is still a zero percent rate increase in effect. However, as TWIA policy holders know all too well, that could change in an instant.

The Committee received nearly 500 written and in-person comments from the public on the Association’s rate adequacy analysis and reviewed and received a presentation from TWIA staff on the content of the rate adequacy analysis. In attendance was Corpus Christi State Representative Todd Hunter, who has been at the front of this fight with his constituents since the beginning. 

The December meeting in Corpus Christi will be centered on home turf for the opposition to rate hikes. That meeting is scheduled to take place at the Omni hotel and will be open to the public. 


*Correction: A previous version of this article indicated that committee members had been approached for questions following the meeting and had declined comment. We have since removed that comment from the article.

Comments

Popular posts from this blog

Healthcare: Are Corpus Christi Residents At Risk Of Dying Due To A Lack Of Resources And Skilled Professionals?

Information Shows That TWIA Could Be More Corrupt Than First Thought

Updated: Bealls To Close Corpus Christi Area Stores