Texas Windstorm Insurance Association Recommends No Rate Increase for Coastal Properties

The Texas Windstorm Insurance Association (TWIA) committee has voted 5 to 2 to maintain current insurance rates for coastal residential and commercial properties. Although an analysis showed that current rates are 3% below recommended levels for homes and 5% below for businesses, the committee cited recent state legislation improvements as a factor in holding rates steady. The final decision on rate adjustments will be made by the full TWIA board in the upcoming meeting next month.