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FOR IMMEDIATE RELEASE
May 22, 2009
CONTACT: Beaman Floyd
(512) 731-9939 or beamanfloyd@earthlink.net
TWIA Delay Could Be Catastrophe as Hurricane Season Approaching
AUSTIN – The Texas Coalition for Affordable Insurance Solutions (TCAIS), an industry coalition of insurance companies doing business in Texas, on Friday issued the following statement regarding Senate Bill 14, which addresses the operation and funding of the Texas Windstorm Insurance Association (TWIA).
The statement can be attributed to Beaman Floyd, executive director of TCAIS:
"With both the start of hurricane season and the end of the legislative session rapidly approaching on June 1, the Texas Coalition for Affordable Insurance Solutions is concerned about the fate of the Texas Windstorm Insurance Association reform bill. We are encouraged by progress of the coastal and inland legislators who are working on this important issue; however, with a clogged house calendar and limited time remaining, it is imperative that this bill continue to move through the legislative process.
“This issue was rightly declared a legislative emergency by Gov. Perry. If the windstorm bill falls victim to the clock, as it did in 2007, a possible special session, as the governor has promised, should be the least of lawmakers’ worries.
“A broke catastrophe fund, with no plan to prepare for or recover from a hurricane, is a recipe for disaster. Sacrificing good TWIA policy to politics leaves Texas primed for a true statewide catastrophe.
“TCAIS implores the Legislature to prioritize passing TWIA legislation that strikes a balance between the interests of all Texans, the overall insurance marketplace and the need for the State of Texas to be prepared for a disaster.”
The Texas Coalition for Affordable Insurance Solutions (TCAIS) is an alliance of insurance providers and trade organizations committed to working with elected officials, the media and the public to find public policy solutions that promote a competitive insurance marketplace that maximizes benefits for buyers and sellers of insurance. TCAIS members include American Insurance Association, Allstate, Farmers, Nationwide, State Farm and USAA.
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