Archive for August, 2010

To Coastal Texans who took action in 2009

Monday, August 16, 2010 posted by admin

This is addressed to the many Coastal Texans who took action in 2009 to save Texans from the amazingly devastating harms written into: HB 911, SB 14, and other bills of that ilk.  Our unified actions helped to kill those bills.  Instead, HB 4409 was hammered out in the final hours of the 81st Legislature, and signed by Governor Perry June 19, 2009.

To be sure, HB 4409 does no favors for Coastal policyholders, but it is extremely LESS UNfavorable than any other bill that could be passed.   Be sure to thank your Senator and Representative, who joined forces to successfully fend off truly onerous provisions.  [Attached are 1 page and 4 page summaries of HB 4409 as passed]

CWIC has been asked to testify August 24, 2010 to the Senate Business and Commerce Committee regarding the implementation of HB 4409.  This is to request your input preparatory to testifying.  Please attach a one page letter to a ‘reply’ to this email, stating your views on: Texas Windstorm Insurance Asssociation [TWIA] coverage, affordability, funding of losses [seriously LIMITED BY HB 4409], claims  payment processes, and any recommendations to enhance services and improve stability of TWIA.

If your attachment is received Friday morning, August 20, 2010, we will try to include it in the official record of the hearing.  A show of strength can make a difference.

Recently the new TWIA board voted to file a 5% 2011 rate increase, and additional 5% increases each year until the rate meets their actuary’s opinion of ‘enough’.  Under HB 4409, TWIA can file for an increased rate of 5% or less and start to use the higher rate; the commissioner no longer has power to reject such a filing  [in 2009 TWIA’s actuary reported a need for 20 – 25% increase; the ‘old’ board voted to file for 10% increase; the commissioner rejected the filiing].  CWIC will be monitoring the 2010 filing, due by August 15.

Thank you for your past participation.  Prepare for 2011, spread the word: “Unite with CWIC” to reverse unjustified legislative changes; to oppose attempts to expand them.

Respectfully,
Coastal Windstorm Insurance Coalition [CWIC]
Hosted by Galveston Windstorm Action Committee, Inc.,
Lee Otis “Otie” Zapp, Jr., President

To view or download additional information click Below:

HB 4409 changes TWIA June 19, 2009

SYNOPSIS OF Sections 5 through 49, [Windstorm Insurance sections] HB 4409, 5/30/09 CONFERENCE COMMITTEE REPORT

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