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360 Panorama - Realtime panorama creation from Occipital

360 Panorama - Realtime panorama creation from Occipital | Texas Real Estate | Scoop.it

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Windstorm rates see temporary stability

Windstorm rates see temporary stability | Texas Real Estate | Scoop.it

Texas windstorm insurance is safe for the next two years because of Georgia Neblett,” Port Aransas attorney Charlie Zahn announced

Via Michael Stuart
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Michael Stuart's curator insight, July 10, 2013 12:35 PM

Neblett, the former mayor of Port Aransas, sits as a member of the Texas Windstorm Insurance Association (TWIA) board and is credited with being a lone voice on the board against rate increases.
TWIA, first known as the Texas Catastrophic Insurance Pool, was created after Hurricane Celia in 1970 to provide adequate wind and hail coverage to Texas residents of 14 coastal counties and portions of Harris County unable to obtain coverage in the private market. With the portion of Harris County, the 14 counties in TWIA are: Aransas, Brazoria, Calhoun, Cameron, Chambers, Galveston, Jefferson, Kenedy, Kleberg, Matagorda, Nueces, Refugio, San Patricio, and Willacy.
Also speaking at the meeting were District 32 State Representative Todd Hunter, Greg Smith, Ingleside Mayor Pete Perkins, and Port Aransas Mayor Keith McMullin.
Zahn reported legislation to have stable windstorm insurance rates included in bills during the latest Texas Legislative session were removed before the bills were voted upon. “We didn’t get the bill we wanted, but we will be back in two years,” he said. “We did make members of legislature reassess how they viewed windstorm insurance.” Zahn added, “We at least put it in people’s minds there are ways we can fund windstorm insurance.”
According to Zahn the State of Texas now has $3.35 billion available for disaster relief. Earlier this year there were rumors circulating in Austin TWIA was going into receivership.
“Today, we have cash in the bank for TWIA, we have the ability to put more money in the bank, and most of the claims from Hurricane Ike have been paid out,” said Zahn.