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TWIA decides against raising rates

TWIA meeting 2019_0806.jpg
Posted at 5:49 PM, Aug 06, 2019
and last updated 2019-08-06 18:49:38-04

CORPUS CHRISTI, Texas — The Texas Windstorm Insurance Association has decided to not raise its rates at this time.

During its quarterly meeting in Galveston today, TWIA’s Board of Directors voted not to increase the premiums for residential and commercial policies.

As you may remember, TWIA issued a report that reached the conclusion that current rates are too low.

But after hearing protests from members of the public today -- including some Coastal Bend residents -- the board voted against a proposed rate hike with the understanding that it will re-evaulate the rate structure at a later date.