Texas Gov. Rick Perry has added legislation regarding the Texas Windstorm Insurance Association (TWIA) to his call for a special session for lawmakers.
A Florida bill meant to restore Citizens Property Insurance Corp. as the state’s last-resort insurer has stalled in the Senate Banking Committee.
Florida’s insurance agents are among those within the industry looking to lawmakers to reform the insurance market in the Sunshine State during this year’s legislative session.
Insurance Commissioner Jim Donelon has approved an average 6.5 percent rate increase for the state’s last resort insurer, the Louisiana Dept. of Insurance confirmed.
The Texas Department of Insurance said that allowing the Texas Windstorm Insurance Association to continue operating would be hazardous to the public and the last resort insurer’s policyholders.
The Texas Windstorm Insurance Association Board of Directors has drafted a resolution to create a committee whose purpose will be to find a replacement for General Manager Jim Oliver.
The Texas Department of Insurance said that allowing the Texas Windstorm Insurance Association to continue operating would be hazardous to the public and the last resort insurer’s policyholders.
The Florida Office of Insurance Regulation said it has approved Southern Oak Insurance Company to take out 14,000 policies from the state's last-resort insurer.