Texas Windstorm Insurance Association may be subject to new measures in a senior lawmaker’s bill

Posted on Friday, March 8th, 2013 at 8:58 pm    

The Texas Windstorm Insurance Association (TWIA) may be put under new restrictions regarding releasing financial information when renewing or issuing wind or hail storm policies.

Amarillo state Rep. John Smithee’s House bill 2785, which was filed Thursday the 7th, addresses the need to notify TWIA’s consumers of its financial status during the issuance of new policies, including the placement of a consumer’s bill of rights on policy declaration pages.

The bill, which aims to make TWIA disclose to consumers its ability to pay claims, a policy private carriers operating in Texas already have to comply with.

Although Corpus Christi State Rep. Todd Hunter, who is chairman of the Calendars Committee through which the bill must pass, opposes the measure, the ability of TWIA to pay claims from a storm has deeply concerned lawmakers and officials for a long time.

Understanding your rights as an insurance policy holder is important, especially if you need financial assistance after a disaster or accident has occurred. Our legal team at Smith Kendall, PLLC, can help you understand your rights, particularly if an insurer is mistreating you. Call 214-361-6124 to discuss your situation and get the help you need.