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Relating to the authority of the Texas Windstorm Insurance Association to raise premium rates on association policies.
No significant fiscal implication to the State is anticipated.
HB 3810 would prohibit the Texas Windstorm Insurance Association from raising premium rates on association policies filed under existing law above the rate in effect on the date on which the filing is made unless two-thirds of the board of directors votes to approve the increased rate. This is an increase from a simple majority vote required to make such a change.
TWIA is a creation of the Legislature and therefore subject to legislative oversight. It does not appear that HB 3810 weighs on our liberty principles and we remain neutral.
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