The Texas Windstorm Insurance Association is the state's insurer-of-last-resort for hurricane and hailstorms in the 14 counties of the Texas coast.
According to the latest data from TWIA, the association insures almost 270,000 properties on the Texas coastline worth an estimated $78 billion in potential liabilities. Meanwhile, policy premiums generate less than a billion dollars a year in revenues.
As a result, lawmakers have come up with a plan to move more properties out of the TWIA pool back into the private markets. It's known as the "Voluntary Market Depopulation Program," and it takes effect, this year.
However, 6 Investigates finds that, for most of us, the depopulation programs are a moot point. That's because most of the 50,000 TWIA policies in Nueces County have a fatal flaw that private insurers cannot tolerate: they're too old.
Local Insurance Agent Ed Cantu tells us any home built prior to 1999 - when building codes were updated to include stronger windstorm standards - will likely be part of the TWIA pool, forever.