Meanwhile, a joint legislative committee has been formed to study alternative methods to provide coverage to coastal residents.
From the category archives:
Letter from Austin: TWIA considers alternatives to reinsurance
Eli Lehrer thinks Obama nominee Rebecca Wodder – the former head of American Rivers – has a lot to offer small-government conservatives. He thinks that Texas Governor Rick Perry’s record should give pause to small-government conservatives. And he thinks that the current lineup of wannabe Presidents skews odd. Very odd.
With legislation on the way to the Governor’s desk to reform Texas’ insurer of last resort, the board of the Texas Windstorm Insurance Association (TWIA) voted to increase rates by 5 percent. The proposal is part of an approach implemented last year to annually raise rates until it can cover its liabilities. The five percent [...]
As part of the conference committee report passed this week, legislative members included a provision to allow an interim study on alternative ways to provide windstorm and hail insurance to the seacoast territory of the state. The report specifies the committee shall: “(1) examine alternative ways to provide insurance to the seacoast territory of this state, [...]
As a sign of the deep frustration over passing any TWIA bill this year, Senator Troy Fraser, R-Horseshoe Bay, filed a bill to completely abolish the association. Most surprisingly, nineteen of the thirty-one Senators co-signed the legislation. The bill itself is not friendly for the free market since it requires private insurers to write policies [...]