Residents of Corpus Christi are currently facing the potential for a significant financial burden, given that the Texas Windstorm Insurance Association (TWIA) is contemplating a 10 percent rate increase. Originating from a recommendation by a TWIA subcommittee, this proposed change has consequently sparked concerns and raised questions among the local population regarding the escalating costs of windstorm insurance.
The Impact on Corpus Christi Residents
During recent community meetings, residents like Johnnie Sue Hardin met the proposed increase with frustration and disbelief, questioning the necessity of such high rates. “Why does it have to keep going up? What’s making it so expensive? They know we need it, so why must it be so high?” Hardin expressed a sentiment that many in her community share. The proposed hike is incredibly daunting for those like Hardin, who have shopped around and still found TWIA to offer the most affordable rates at $418 per month. “Even if I got on a payment plan, or they offered me anything, I still couldn’t be able to do it,” she added, highlighting the financial strain this increase could impose.
Factors Behind the Proposed TWIA Increase
TWIA’s Senior Manager of Legislative and External Affairs, Anna Taylor, explained that the rate recommendation considers several factors, including Rate Adequacy Analysis, public comments, and input from the association staff. These factors collectively influence the decision-making process to ensure the financial stability and adequacy of the rates charged.
City Leaders Rally Against the TWIA Increase
Corpus Christi city leaders are mobilizing to oppose the change in response to the proposed increase. A resolution is planned for discussion on Tuesday, and we hope to halter the rate hike. Ryan Skrobarczyk, the City of Corpus Christi’s Director of Intergovernmental Relations, emphasized the collective effort in this opposition. “We’re working with partners, everybody including the Port, the RTA, the county, Chairman Todd Hunter is leading the effort to oppose a rate hike,” he said. The goal is to keep living and working in the Gulf Coast region affordable for residents.
Public Input and Final Decisions
The city will gather public input during a meeting scheduled for later in July, allowing residents to express their concerns and opinions. The TWIA Board of Directors will decide at their meeting in Galveston on August 6. For those unable to attend in person, TWIA will provide details on their website about how residents can participate virtually and make their voices heard.
The potential rate increase by TWIA is more than a financial issue; it’s about the livability and sustainability of Gulf Coast communities. As the decision day approaches, residents like Hardin and city leaders hope their efforts will sway the outcome in favor of affordability and fairness.