• Windstorm Insurance Reform

  • A Petition

  • We, the residents and property owners of the 14 coastal counties of Texas, petition the Texas Windstorm Insurance Association (TWIA) Board of Directors, the Texas Commissioner of Insurance, members of the Texas State Legislature, and Governor Abbott to oppose rate increases for TWIA policyholders.


    Many Hurricane Harvey impacted communities continue to struggle with rebuilding.  TWIA, and other insurance claims remain unresolved so repairs, restoration, and revitalization of homes, businesses and communities are incomplete.  It is insensitive an unnecessarily cruel to dump a significant premium rate increase on these policyholders while they continue to rebuild their lives.  TWIA must explore any and all possible alternatives to a premium rate increase given the gravity of economic conditions in Hurricane Harvey impacted communities.

     

    • Harvey impacted about 4,800 businesses in Coastal Bend's hard-hit communities with a total of $2.6 billion in pre-Harvey annual business revenues.  As of July 2018, nearly one year after Harvey, the share of closed businesses was up to 40 percent in some areas.
    • Raising the TWIA rates 10 percent will disqualify a portion of first time home buyers that will not qualify due to the federal government's income guideline rules.
    • Raising the rates will also put pressure on many households not able to afford insurance and those with mortgages, possibly being pushed into default due to not being able to make increased payments.
    • Detrimental to Economic Development as employers seeking to locate here will find it too expensive for their employees to live here.

     

    Therefore, we the undersigned, call on the TWIA Board of Directors, the Texas Commissioner of Insurance, members of the Texas State Legislature, and Governor Abbott to recognize the plight of coastal residents and not impose a rate increase on TWIA policy holders.

     

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