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Corpus Christi business, politicians urge windstorm insurers to reject 5% rate hike
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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 on homes in Texas could increase by 5 percent next week.
The Texas Windstorm Insurance Association’s Board of Directors will vote Tuesday on a recommended 5 percent rate hike.
Local politicians and business leaders are urging the public to attend the hearing, which will be held in Corpus Christi, and speak against the increase.
Those against the hike say TWIA continues to push for a rate increase although many in the Coastal Bend are still recovering from Hurricane Harvey. The storm ravaged homes and businesses in the area when it struck the Texas coast in August 2017.
Rates have already increased 71 percent in the past 11 years.
The TWIA board meeting starts at 8:30 a.m. on Tuesday at the Omni Corpus Christi Hotel.
This vote comes after TWIA’s board already voted in August to propose a 0 percent rate increase.
Coastal Bend area chambers of commerce held a press conference Thursday at the Omni opposing the rate hike. The chambers have held several this year and continue to keep opposing any increase.
“TWIA’s plan to raise rates during this sensitive time when people are still rebuilding their homes and businesses in the aftermath of Hurricane Harvey is insensitive and unnecessary,” said John LaRue, president/CEO of the United Corpus Christi Chamber of Commerce.
He was joined at the press conference by Nueces County Judge Barbara Canales, Mayor Joe McComb and others to formally oppose the hike.
Windstorm insurance rate increases are detrimental to economic development chamber officials have argued. Employers seeking to locate in the Coastal Bend will find it too expensive for their employees to afford a permanent home in the area, according to the united chamber.
Local leaders also encourage the public to take action and tell TWIA “No rate hike” via email to publiccomment@twia.org by the deadline of noon on Dec. 6.
What you can do
- Tell the Texas Windstorm Insurance Association if you oppose a 5 percent rate hike at the board’s meeting at 8:30 a.m. on Tuesday at the Omni at 900 N. Shoreline Blvd. in Corpus Christi.
- Email TWIA your opposition to publiccomment@twia.org by the deadline of noon on Dec. 6.
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.
Related coverage
More: Five percent rate hike recommended for Texas Windstorm Insurance
More: Coastal Bend chambers protest potential Texas Windstorm Insurance Association rate hike
More: TWIA board of directors votes to keep insurance rates unchanged for now
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