December 10, 2019      8:17 PM

TWIA rate increase deferred for now

Rep. Middleton says “I am glad that Texans in Galveston and Chambers counties will not face a rate hike for the foreseeable future” but an increase could come next summer; the board agreed to post an RFP for an actuarial review

The Texas Windstorm Insurance Association board took a pass on a rate increase at today’s meeting in Corpus Christi while leaving the door open for a potential rate review next year.

Gulf Coast residents are still bruised and battered from Hurricane Harvey. Many continue to rebuild. Most are still waiting on federal funds to rebuild their homes. Today, along with their Nueces County lawmakers, they urged TWIA’s board to say no to an insurance rate increase.

County Commissioner Brent Chesney – Rep. Todd Hunter’s one-time staffer – said he had spent 30 years fighting windstorm insurance rates on behalf of the Texas Coast.

“This is a very difficult time, still, in the recovery of Nueces County, and especially in Port Aransas,” Chesney said. “It is ridiculous for 30 years – a good portion of my adult life – we’ve had to continue this fight against unfair and discriminatory rate practices against the coast. The system is flawed. There should be a true catastrophic pool for insurance across the state.”

Speakers had plenty of arrows to aim at TWIA: That the Gulf Coast carried the price of its own natural disasters, plus others across the state. That two members missing from the TWIA board – intended to represent the public – was no mistake. And that the Gulf Coast was suffering huge personal losses, while continuing the export of high-cost cargo – such as natural gas out of the Permian Basin to other markets – while the region continued to suffer.

By Kimberly Reeves

Copyright December 10, 2019, Harvey Kronberg, www.quorumreport.com, All rights are reserved