Texas Windstorm Insurance Association Review is OK'd
The Texas Windstorm Insurance Association board today unanimously approved a proposal from a third-party firm to conduct a financial review of the insurer of Texas’ coastal residents — despite avid opposition from state Rep. Larry Taylor, R-Friendswood, the co-chairman of the Windstorm Insurance Legislative Oversight Board.
In a letter to Mike Gerik, the chairman of the TWIA board, Taylor suggested an actuarial review by a third party would be used to hike policyholders’ insurance rates, and he added that TWIA should not spend additional funds for a review that TWIA has in-house staff capable of conducting.
“I find it unreasonable for ...
Comments (1)
Rudy Gonzales
Is this the same state Representative Larry Taylor, from Friendswood, Texas whom I've written about in the past? Texas and Texans cannot accept the failures of this Legislature and the word of Larry Taylor of Friendswood, Texas. Here's my previous posting:
This is what you get in a one party state! The limitation what lawyers can collect when suing over mishandled and inadequate claim settlements is not tort reform, it's pulling teeth out of any real reason legislation. The only losers will be the policy holders. Capital requirements should be one hundred percent (100%) and totally secured with the paychecks of each and every Senator and representative in Austin! There will be no reason to get insurers to fix or replace homes, roofs and other structures if a Texas state sanctioned Insurance inspector decides to fudge the cost of repairs back to pre-destruction condition. An example is when I had to fight and send letters and four estimates to get a new roof on my house. A roof cannot be repaired after a hurricane like "Ike"! Any attempt to repair a roof will void the pre-existing warranty on the current roof. Insurers have the option of not insuring if the home does meet code. The only way to fix many roofs is to re-roof the entire house. It cannot be piece mealed to pre-storm condition. The fact is there were and still are corrupt state inspectors around who will low-ball an estimate to keep funds from being spent. Every cent sent in to this pseudo-state insurance association must be kept in a federally over-sighted corporation and out of the hands of any Texas Legislator! This brings to mind "Corruption", "Under-the-table" and "kickback" as was alleged post IKE! Every legislator in Austin is subject to corrupt charges resulting for failure to install safe guards protecting the public's funds. Additionally inhibitory restrictions on legal ramifications should not be considered since that would limit the correction of gross errors on behalf of TWIA, administrators or Repair contractors. Larry Taylor of Friendswood, Texas had the audacity to say no heads should roll over TWIA and the corruption and collusion in TWIA. He was wrong! He happens to be one of the representatives from Galveston County. If he was derelict in containing the misdeeds of TWIA and or the administrators or the Inspectors, or in-placing controls to keep from paying out bribes, then he also is culpable. This pseudo-state insurance association was created for the protection of the citizens of the Texas coast, and not for the lining of Texas legislators in Austin. The Legislature has been derelict in passing the budget, school funding and jobs while passing Sonogram legislation intruding into Texans bedrooms.