Video: Lawmakers Again Pushing for TWIA Overhaul
After months of planning, state Rep. Todd Hunter, R-Corpus Christi, and Sen. Juan "Chuy" Hinojosa, D-McAllen, filed bills on Tuesday to overhaul the Texas Windstorm Insurance Association and rein in rate hikes on coastal residents.
Texans living along the coastline have endured a nearly 50 percent hike in Texas Windstorm Insurance Association rates over the past 10 years.
This session, they’re hoping lawmakers are able to rein in costs by focusing on rate control, adding more coastal residents to TWIA’s board of directors and ensuring catastrophe preparedness.
Legislators filed four bills on Tuesday seeking to overhaul TWIA. State Rep. Todd Hunter, R-Corpus Christi, filed three bills — House Bill 2350, HB 2351 and HB 2352 — that would revamp the system.
Democratic Sen. Juan "Chuy" Hinojosa of McAllen is sponsoring companion legislation, Senate Bill 1089, in the upper chamber.
Texas windstorm insurance rates have increased an average of 5 percent every year for the past 10 years for residential properties and 6 percent for commercial properties.
TWIA has spent $2.1 billion on losses and litigation related to 2008's Hurricane Ike.
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