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Homeowners insurance in Texas is getting more complicated

October 13, 2014October 11, 2014 S.Vagus

Lawmakers have exited a hearing regarding the Texas Windstorm Insurance Association with new insight Texas lawmakers have learned more about the current problems facing the Texas Windstorm Insurance Association (TWIA). The organization is often the last place where people can find homeowners insurance that provides coverage for certain natural disasters in the state. Like other state-backed insurance organizations, TWIA has had to deal with severe financial issues that have threatened its ability to effectively provide coverage to policyholders. Some of these issues have been resolved in recent years, but state…

Texas homeowners insurance program could see surplus this year

June 20, 2013June 18, 2013 Nordstrom

Homeowners insurance organization may soon overcome challenges The Texas Windstorm Insurance Association (TWIA) has been struggling with some severe financial and management challenges in recent years. The state-run, non-profit organization provides some homeowners insurance protections to properties in coastal regions of the state. The organization is typically the only place where homeowners can find protection against wind damage along the coast. Despite past struggles, TWIA officials expect that 2013 will be a good year for the organization. TWIA manages to settle numerous lawsuits TWIA has been in debt since early…

Homeowners insurance in for some turbulence in Texas

April 1, 2013March 31, 2013 Logan B.

Texas homeowners insurance continues to be faced with serious problems The Texas Windstorm Insurance Association (TWIA) has been facing significant financial troubles in recent years. Like other state-run insurance organizations, TWIA offers homeowners insurance coverage that is typically less expensive than coverage offered by private insurance companies. For smaller states that are not exposed to the same natural disasters that Texas is, these public organizations face only modest challenges. TWIA, however, has long been faced with the financial woes that are associated with homeowners insurance for coastal properties. TWIA combats…

TWIA plan aims to reduce financial burden on policyholders

December 21, 2012December 21, 2012 S.Vagus

Texas legislators introduce new plan for TWIA Texas lawmakers have revealed a plan that aims to help solve the problems of the beleaguered Texas Windstorm Insurance Association (TWIA). The state-run insurance provider offers coverage for coastal properties and is typically the only place homeowners in coastal regions can find the coverage they need because of the high risks they represent. TWIA has faced several challenges over the years, most of which have been financial, and lawmakers have been working to solve these problems. Plan aims to raise funds for state-run…

Texas Windstorm Insurance Association may find new allies

December 12, 2012December 12, 2012 Marc

Texas Windstorm Insurance Association attracting global attention The Texas Windstorm Insurance Association, a state-run insurance group that provide coverage for wind damage primarily to properties in coastal areas of the state, has been experiencing financial troubles recently. Financial challenges are nothing new to state-run insurance groups, as many of them offer coverage that is much more affordable than that offered by private insurance companies. Texas Insurance Commissioner Eleanor Kitzman, who is in charge of the state-run insurance group, has been traveling around the world in order to address the issues…