On April 16, several Texas Senators and Representatives hosted a public forum in Brownsville addressing the proposed new rules from the Texas Department of Insurance (TDI). Julia Rathburger, TDI Commissioner attended the meeting. Texas Senator Eddie Lucio urged the Commissioner to help spread the risk. He argued that the Texas Windstorm Insurance Association (TWIA) proposed rules as published on February 14 would have the effect of forcing some of the most economically-challenged regions of the state – and the nation – to subsidize more affluent regions in the Coast.
TDI has had three public hearings – in Beaumont (Jefferson County), Austin (Travis County), and in Corpus Christi (Nueces County) – on their proposed rules that would increase premium surcharges on several types of insurance policies along the 14 Gulf Coast counties in order to implement the funding mechanisms for TWIA in the event of a catastrophe. However, members of the Legislature thought it was important to bring the conversation to Cameron County.
These rules are part of the Department’s continual implementation of HB 3 (82nd 1st Called). Public comment on these rules closed March 10. Adopted rules will be filed at the following link: http://www.tdi.texas.gov/rules/2014/parules.html