The Texas Windstorm Insurance Association could see some big changes coming out of the legislative session that ended yesterday in Austin.
Lawmakers have created the TWIA Funding Structure Oversight Board which will take a hard look at the association’s current funding model and come up with a new one.
The idea is to create a sustainable funding model for TWIA which many argue is not sustainable and puts policyholders at risk.
You may recall the association asked for a 10 percent rate hike on all policies.late last year, only to have the governor block it.
Now, lawmakers hope they can find solutions everyone can agree on.
State Rep. Todd Hunter was a big part of this push. He’ll be in our studio later to offer his insights, which we’ll share with you at 6 p.m. and 10 p.m.
