PODCAST

The CCA Corpus Christi Chapter is holding their 36th annual Dinner on Thursday, March 20th at the American Bank Center. The registration form for individual tickets and tables can be found here.

Re:    Texas Department of Insurance Loss Funding Rule Process

We continue to work on a solution to funding windstorm insurance for those of us who live and work on the Texas Coast. We need your help again today. The new Commissioner of Insurance has proposed rules on loss funding and premium surcharges for the Texas Windstorm Insurance Association.  She published them several weeks ago and is seeking public input through hearings in Beaumont, Austin and Corpus Christi as well as through written comments. The hearing in Corpus Christi is Wednesday, March 5th at Texas A & M University, Corpus Christi.  Written comments must be in by March 10th. The current commissioner believes that she is mandated to implement these rules by the terms of HB 3. We know after successfully stopping this trampling of Coastal residents rights that the language in HB 3 is permissive not mandatory.

The purpose of this correspondence is to ask that you, your business, your City Council, Commissioner’s Court, utility district, trade association and Chamber of Commerce sent a letter by e-mail to:

Texas Department of Insurance
P.O. Box 149104
Austin, Texas 78714-9104
Attn: Mr. Brian Ryder    Brian.Ryder@tdi.texas.gov
In your letter we would ask that you advise Texas Department of Insurance (“TDI”):

1.    You oppose the adoption of the proposed rules.
2.    That the adoption of the rules would have an adverse economic effect on the Texas Coast.
3.    That the adoption of the rules and implementation of the funding sources through surcharges on the policies of only those on the Texas Coast would be and is discriminatory against those who live and work on the Texas Coast.
4.    That TDI needs to explore alternate funding sources spreading the cost and the risk of a catastrophic event across the entire state of Texas.
5.    That TDI should assess the insurance industry for Hurricane Ike losses in excess of premiums as provided by HB 4409, the statute in effect at that time, thereby putting an additional $400 million into the Catastrophe Reserve Trust Fund.
6.    The new rules were authorized several years ago and have not been enacted. Our position is that we let the Texas Legislature, our elected officials, propose and adopt legislation to meet the needs of the proposed rules.

The talking points above should help you communicate your dissatisfaction with what is being proposed. It is imperative that we respond before the deadline for public comment.