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TWIA to consider 5 percent rate hike at next meeting

TWIA Board of Directors will consider rate hike
Posted at 5:03 PM, Nov 19, 2019
and last updated 2019-11-19 18:10:19-05

CORPUS CHRISTI, Texas — The Texas Windstorm Insurance Association board will consider a 5 percent across-the-board rate increase for residential and commercial policyholders when it meets here next month.

The TWIA Actuarial and Underwriting Committee voted 5-2 to recommend that rate hike on Tuesday in Austin, but the committee also left open the possibility of making a second recommendation.

The committee approved another motion allowing it to make that second recommendation on a rate hike in no later than three months.

That will give the committee time to review six specific categories of information one member had requested.