- Rep. Larry Taylor Amends Bill to Help Solve Problems of Troubled Agency -
Texas Insider Report: AUSTIN Texas Today the Texas House of Representatives passed House Bill 272 by Rep. John Smithee (R Amarillo). The bill contained comprehensive reform measures aimed at addressing the numerous problems with the Texas Windstorm Insurance Association (TWIA).
Rep. Larry Taylor (R Friendswood) said TWIA is a broken agency and Im grateful for the leadership of Chairman Smithee in offering these reforms. The coastal legislative delegation appreciates his willingness to work with all stakeholders in finding viable solutions to TWIAs problems."
Rep. Taylor offered multiple amendments designed to improve important aspects of the critical legislation in response to numerous reported management deficiencies litigation abuses and the recent administrative oversight of TWIA. Major provisions to the bill included:
• Repealed premium increases contained in the proposed version of the bill
• Improved access to administrative legal remedies
• Provided access to local courts for adjudication
• Increased transparency features for TWIA management
Rep. Taylor said In order to be adequately prepared for future hurricane seasons it is imperative that TWIA be operating at maximum efficiency that the Reserve Trust Fund be solvent and that the agency have adequate management measures in place to protect consumers and ensure that claims are paid in a timely manner. House Bill 272 is an important step in the right direction toward restoring public confidence in TWIA."
Recently the Texas Department of Insurance placed TWIA under administrative oversight due to numerous management problems that have plagued the agency. The Travis County District Attorneys office also announced a criminal investigation into possible fraudulent activity related to claims from Hurricane Ike as well as the events surrounding TWIA management oversight practices.
