Texas Windstorm Insurance Association targeting by legislators

Insurance news - Eleanor Kitzman Texas Insurance Commissioner

Insurance Commissioner addresses concerns regarding state-run insurance group Texas Insurance Commissioner Eleanor Kitzman has addressed concerns regarding the state of the Texas Windstorm Insurance Association (TWIA). The state-run insurance organization is often considered the last and best place for homeowners to obtain affordable coverage to protect their properties from wind damage. Like with other state-backed insurance groups, TWIA has been faced with problematic financial issues that have threatened its existence and continued viability. These financial problems have caught the attention of the state’s House Insurance Committee, which has issued a…

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Texas insurance regulators looking to restructure state’s Windstorm Insurance Association

The Texas Department of Insurance is looking to restructure the state’s Windstorm Insurance Association. The state-run insurance group provides protection from wind damage, something that many of the state’s private insurance companies do not offer. Like similar organizations in other states, the Windstorm Insurance Association has fallen prey to mounting debt. Insurance Commissioner Eleanor Kitzman is now looking for approval from legislators to hire a private consultant to aid in the program’s restructuring. The program was originally meant to be a last resort for state residents who could not find…

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