Insurers Seek to Boost Hurricane Insurance Along Texas Coast

March 16, 2006

  • March 16, 2006 at 3:02 am
    carlfarm says:
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    do we really want to issue bonds? ideally raising rates would be the first place to start. These bonds of course would be paid for by ourhardworking clients. there has to be a better solution!

  • March 16, 2006 at 4:12 am
    Connie says:
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    If the proposal for this is pushed through, why should any of us carry flood or windstorm coverage? I believe that everyone should be responsible to cover their assets & if they cannot, then they should realize their choices, sell or take the chance & gamble on losing it all. I say no more for the taxpayers on things like this if there is coverage available & the property owners choose not to insure, then they have no coverage. I also understand that sometimes people may have a hard time making ends meet, but that’s why we have banks & lending institutions that are willing to loan us money on things we own. I feel that if you are not in a position to cover your assets then maybe you should sell & find something that meets your budget. Life is a gamble & most people walking into a casino knows the risk & anyone living on the Gulf Coast should know the risk too. Once it’s lost â€â€Ŕ it’s gone â€â€Ŕ to bad so sad if you gamble & lose.

  • March 16, 2006 at 4:59 am
    Chuck says:
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    I believe you missed the point. I see nothing in the article about people failing to buy insurance. the problem is the pool rates are insufficient to cover a cat loss that does not happen every year. Since our politicans will not let the pool accumulate money over a period of years ( they will wnt to use surplus to pay for other programs), I suspect the bond proposal along with a significant increase in pool rates might be part of the answer.

  • March 17, 2006 at 10:59 am
    Jack says:
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    The cost for Hurricane coverage on the coast for a 100K brick veneer home is $726 plus the cost for the rest of the homeowners protection, not the $600 average listed in the article. We do pay more for our coverage because we live on the coast. In order to keep the TWIA program solvent, changes need to be made. Bonds are a good start. Making the TWIA tax exempt would also help. Keeping the premiums in the program would help, also. It\’s about time for Texas to wake up and make sure this insurance of last resort for hurricane coverage remains solvent.
    After writing insurance through the windstorm association, I sure would hate to tell my customers there aren\’t funds to pay their claims.



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