HomeMy WebLinkAbout031939 RES - 11/19/2019 Resolution Opposing Texas Windstorm Insurance Association Rate Increase
WHEREAS, Hurricane Harvey made landfall as a Category 4 hurricane on the Texas
coast on Friday, August 25, 2017, and battered and drenched Texas for days before
finally moving out of the state. Hurricane Harvey was the first major hurricane to make
landfall along the Middle Texas Coast since Hurricane Celia in 1970;
WHEREAS, Governor Greg Abbott first issued a disaster declaration on Aug. 23, 2017,
for Aransas, Austin, Bee, Brazoria, Calhoun, Chambers, Colorado, DeWitt, Fayette, Fort
Bend, Galveston, Goliad, Gonzales, Harris, Jackson, Jefferson, Jim Wells, Karnes,
Kleberg, Lavaca, Liberty, Live Oak, Matagorda, Nueces, Refugio, San Patricio, Victoria,
Waller, Wharton, and Wilson counties;
WHEREAS, more than two years after the storm, many of the Hurricane Harvey disaster
declared communities are struggling to rebuild;
WHEREAS, the Texas Windstorm Insurance Association Board of Directors voted 5-4 to
increase rates for 2019 by 10 percent at its July 31, 2018 quarterly Board meeting. This
action was forestalled by Governor Greg Abbott in order to allow the Texas State
Legislature to address TWIA's actuarial deficiency;
WHEREAS, the 86th Texas Legislature did act by passing HB1900, which creates a
Legislative Funding Oversight Committee to study TWIA's rate adequacy;
WHEREAS, the Legislative Oversight Committee must be appointed and given time to
act before TWIA activates a new rate increase;
WHEREAS, the TWIA Board of Directors voted for no rate increase at its August 6, 2019
meeting; and
WHEREAS, there are sufficient premiums, assessments, and reinsurance to cover
potential TWIA liabilities for 2020;
NOW THEREFORE BE IT RESOLVED, THAT THE CITY OF CORPUS CHRISTI
encourages the TWIA Board of Directors to show restraint and allow the will of the
Legislature to be fully implemented before TWIA votes for a rate increase that could
significantly stifle rebuilding and rehabilitating homes, businesses, and lives along the
Texas coast.
031939
SCANNED
PASSED AND APPROVED on the 1 day of /1 verb 2019:
Joe McComb
Roland Barrera �E
Rudy Garza i�
Paulette M. Guajardo ,4"
Gil Hernandez
Michael Hunter
Ben Molinar&
Everett Roy /477
Greg Smith
ATTEST: CITY OF CORPUS CHRISTI
Re•ecca Huerta Jae cComb
Cit Secretary ay•r
031932