HomeMy WebLinkAbout032500 RES - 07/20/2021Resolution Opposing Texas Windstorm Insurance Association Rate Increase
WHEREAS, the City of Corpus Christi strives to encourage economic development and improve
the quality of life for residents and businesses in the City;
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, more than three years after the storm, many of the Hurricane Harvey disaster
declared communities are struggling to rebuild;
WHEREAS, Hurricane Hanna made landfall on the south Texas Coast on Saturday July 25,
2020;
WHEREAS, the City of Corpus Christi faces an economic crisis driven by the COVID-19
pandemic along with the downturn of the oil and gas industry. Our small businesses have been
greatly impacted by the recession and we have seen a loss of jobs in our communities.
WHEREAS, the 86th Texas Legislature did act by passing HB1900, which creates a Legislative
Funding Oversight Committee to study TWIA's rate adequacy; the Legislative Oversight
Committee was appointed but unable to complete its oversight work due to the COVID-19
pandemic restrictions.
WHEREAS, the 87th Legislature passed legislation to extend the work of the Legislative
Oversight Committee to this biennium and passed other vital reforms to improve TWIA rate
setting process and reinsurance forecasting.
WHEREAS, this reform legislation should be implemented before consideration of new TWIA
rate increases.
WHEREAS, there are sufficient premiums, assessments, and reinsurance to cover potential
TWIA liabilities for 2022.
NOW THEREFORE BE IT RESOLVED, THAT THE CITY OF CORPUS CHRISTI continues its
opposition to unnecessary increases in windstorm insurance rates and encourages the TWIA
Board to implement the reform legislation passed in the 87th Legislative Session. A TWIA rate
increase on top of the economic challenges caused by the COVID-19 pandemic would be
devastating to our regional economy and the entire Texas Coast. VOTE NO RATE HIKE FOR
2022.
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SCANNED
PASSED AND APPROVED on the )_G1day of
Paulette M. Guajardo
Roland Barrera
Gil Hernandez
Michael Hunter
Billy Lerma
John Martinez
Ben Molina
Mike Pusley
Greg Smith
ATTEST:
A•Lt
Rebecca Huerta
2021:
OF CORPUS CHRISTI
aulette M. Guajardo
City Secretary Mayor
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