Texas state Sen. Kelly Hancock (Richland Hills), Sen. Juan “Chuy” Hinojosa (McAllen), Charles Schwertner (Georgetown) and Larry Taylor, (Friendswood) have been appointed to the Windstorm Insurance Legislative Funding and Funding Structure Oversight Board by Texas Lt. Gov. Dan Patrick.
The Windstorm Insurance Legislative Funding & Funding Structure Oversight Board was established in House Bill 1900 to make recommendations for future legislation to ensure the sustainability of the funding structure for the Texas Windstorm Insurance Association. TWIA is the property insurer of last resort for wind and hail in counties along the Texas Gulf Coast.
The board is mandated to report its recommendations to the Legislature by November 15, 2020. Hancock was named co-chairman of the board.
Responding to the appointments, John Polak, General Manager of the Texas Windstorm Insurance Association, said in a statement that TWIA looks “forward to working with the members appointed by Lieutenant Governor Patrick and Speaker Bonnen to this Legislative Oversight Board as it develops recommendations regarding the operations, funding, and sustainability of the Association.”
Texas House Speaker Bonnen previously appointed the following members of the Texas House of Representatives to the Windstorm Insurance Legislative Funding & Funding Structure Oversight Board: Reps. Greg Bonnen, MD (Friendswood); Alex Dominguez (Brownsville); Todd Hunter (Corpus Christi); and Eddie Lucio, III (Brownsville).
In January, Bonnen also appointed four representatives to the Windstorm Insurance Legislative Oversight Board: Reps. Abel Herrero (Robstown); J.M. Lozano (Kingsville); Geanie Morrison (Victoria); and Ed Thompson (Pearland).
HB 1900 directed the legislative oversight board to evaluate a merger of TWIA and the Texas FAIR Plan Association, reporting its recommendations to the Legislature by Jan. 1, 2021.
Lt. Gov. Patrick also will name four senators to the legislative oversight board. Those members have not yet been announced.
Topics Catastrophe Mergers & Acquisitions Natural Disasters Carriers Texas Windstorm
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