The United Corpus Christi Chamber of Commerce, along with area chambers of commerce, will host a press conference on Thursday, December 5 at 10:00 a.m. at the Omni Corpus Christi Hotel to alert the media and the public about the Texas Windstorm Insurance Association’s (TWIA) plan to raise rates on policyholders again. Members of our Texas Legislative Delegation and other elected officials are invited to attend.
We will have "No TWIA Rate Hike" yard signs will be available for purchase ($10 each) and pick up at the press conference. To pre-order your signs, click HERE! After the press conference, signs will be available for pickup at the United Corpus Christi Chamber of Commerce office during regular office hours (M-F; 8a-5p).
United Corpus Christi Chamber of Commerce Statement on the most recent TWIA Actuarial Committee Meeting (occurred on 11/19/2019):
We are disappointed in the unnecessary, yet predictable recommendation handed down this week by the TWIA Actuarial and Underwriting Committee. The committee’s recommendation for a 5 percent rate hike, made via teleconference, was clearly not made in good faith. Not a single member of the committee was willing to vote in person, while many individuals from our Gulf Coast community made the over three-hour trip to Austin to address the committee in public comment. More importantly, no justification was made for the 5 percent increase and many of the committee members concerns remain unaddressed.
TWIA continues to push for an unjustifiable rate increase before the State Legislature has had a chance to act on the reforms made in the last session.
The vote is a recommendation by the Actuarial and Underwriting Committee. For a rate hike to go into effect, it must be approved by the full TWIA Board of Directors. The next opportunity for TWIA to approve a rate hike will be during their December 10th Board of Directors meeting in Corpus Christi. That meeting is scheduled to begin at 8:30 a.m. at the Omni Hotel and is open to the public. We encourage the entire Coastal Community to attend. The TWIA Board of Directors currently has two vacancies, one for a first-tier coastal representative and one for a non-seacoast territory representative. It is unprecedented for the board to move forward with a rate increase while policyholders are not fully represented.
Please mark your calendars for the December 10 meeting. We need a strong turn out to let TWIA know we will not stand for a rate hike.