Not to mention the fact that if Francis hit the Houston/Galveston area, the distruction would be widespread and the TWIA doesn’t cover much of Harris County at all, nor is their a state reinsurance program like Florida’s. I think Texas should turn TWIA into a reinsurance program for companies stop selling personal and commercial policies to the public. Reinsurance for the coastal counties would be much easier to manage, as the TWIA is very hard for agents to deal with, and is very customer unfriendly.
Florida’s property residual market needs to issue no assessments after Charley despite experiencing $1.2 billion in losses. Florida is much better prepared to sustain a major loss than Texas. TDI should take a hard look at Florida and how they run their Citizens plan.
States like Texas and Florida should stop providing insurance altogether. It only encourages population growth and development in coastal areas. If someone wants to build a million dollar home on a barrier island, fine. Just don’t ask the taxpayers and all the insurers who passed on the risk to pick-up the tab when the hurricane inevitably comes. Florida’s Citizens Property Insurance Company will not look so wisely conceived after Francis.
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Not to mention the fact that if Francis hit the Houston/Galveston area, the distruction would be widespread and the TWIA doesn’t cover much of Harris County at all, nor is their a state reinsurance program like Florida’s. I think Texas should turn TWIA into a reinsurance program for companies stop selling personal and commercial policies to the public. Reinsurance for the coastal counties would be much easier to manage, as the TWIA is very hard for agents to deal with, and is very customer unfriendly.
Florida’s property residual market needs to issue no assessments after Charley despite experiencing $1.2 billion in losses. Florida is much better prepared to sustain a major loss than Texas. TDI should take a hard look at Florida and how they run their Citizens plan.
States like Texas and Florida should stop providing insurance altogether. It only encourages population growth and development in coastal areas. If someone wants to build a million dollar home on a barrier island, fine. Just don’t ask the taxpayers and all the insurers who passed on the risk to pick-up the tab when the hurricane inevitably comes. Florida’s Citizens Property Insurance Company will not look so wisely conceived after Francis.