February 22, 2020      12:39 PM

TWIA vote could eventually force rate increases

The Texas Windstorm Insurance Association board took a vote this week on funding to finance windstorm claims that could end up squeezing the cost of policyholder premiums.

Lawmakers have made it clear – especially in the wake of Hurricane Harvey – that they don’t want TWIA policy rates to go up while communities continue to recover from Harvey-related storm damage. That strong opposition – joined by dozens of policyholders – pushed back a recommendation in December to increase policy premiums by 5 percent.

Policyholders could claim victory for now. But is it fleeting?

By Kimberly Reeves

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