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6 Investigates Follows-Up: TWIA’s 10% Rate Hike… cont’d

Posted: 4:43 PM, Aug 23, 2018
Updated: 2018-08-23 20:53:23-04

The Texas Windstorm Insurance Association last month voted to increase premiums on all residential and commercial policies by 10 percent.

And as KRIS  Chief Investigative Reporter Rick Spruill later found, the proposed increase is based on TWIA’s position that policy rates are “inadequate.”

Meanwhile, local business owners and leaders say the rate increase is ill-timed and ill-conceived, and has a chilling effect on Harvey recovery efforts in particularly hard-hit areas.

But, the law requires TWIA to get this increase approved by the Texas Department of Insurance before it can take effect, which means there’s a public comment period.

That period is now open. If policy holders have something to say, they can email:  ChiefClerk@TDI.Texas.Gov  or, write a letter to:

Office of the Chief Clerk

Mail Code 113-2A

TDI

P.O. Box 149104

Austin, Texas 78714-9104

​The public comment period ends at 5 p.m., on Oct. 1.

If the increase is approved, policyholders will see that 10 percent added to their policies, starting next year.