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Windstorm insurance rates won't increase in 2020 for South Texas residents
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A year after Hurricane Harvey changed the landscape of the coast, residents and business owners rallied against a ten percent windstorm rate hike. Rachel Denny Clow, Corpus Christi Caller-Times
Windstorm insurance for South Texas residents won’t increase in 2020.
The Texas Windstorm Insurance Association Board of Directors, meeting Tuesday at the Omni Corpus Christi, voted unanimously against a recommended 5 percent rate hike.
The association’s Actuarial and Underwriting Committee recommended in November the TWIA board approve a 5 percent increase for both commercial and residential risks.
The board voted after about 40 people spoke in oppositio during more than two hours of public comment from across South Texas. Among those who testifed were elected officials, county judges and city politicians.
The board meeting followed several months of protests this year by Coastal Bend-area chambers of commerce that continued to oppose any increase.
Rates have already gone up 71 percent the past 11 years, according tot he United Corpus Christi Chamber of Commerce.
This story is developing. Check Caller.com for updates.
Kathryn Cargo follows business openings and developments while reporting on impacts of the city government’s decisions. Help support local journalism with a digital subscription to the Caller-Times.
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