TWIA Fix Too Little, Too Late, Too Impossible

Rising expectations for operating improvements, and the promise of long term financial strength, rode with the Texas Windstorm Insurance Association (TWIA) “reform” bill during its circuitous and prolonged journey through the Legislature.

Two consecutive regular sessions were required to see a final, super- scrutinized, and extensively compromised draft bill emerge as law. A little more remedial work and HB 4409 could be a winner. See below.

Now that Gov. Rick Perry has placed his signature on HB 4409, making it official, there are growing concerns that the new law fails to provide sufficient reserves to meet TWIA’s burgeoning hurricane loss obligations. And now the 2009 hurricanes are coming.