Bill Text: TX HCR35 | 2017 | 85th Legislature 1st Special Session | Introduced
Bill Title: Requesting a joint interim committee to study certain limitations on rate filings of the Texas Windstorm Insurance Association.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2017-08-10 - Filed [HCR35 Detail]
Download: Texas-2017-HCR35-Introduced.html
| 85S12713 PMO-F | ||
| By: Hunter | H.C.R. No. 35 | |
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| WHEREAS, The coastal territory of this state accounts for | ||
| nearly 40 percent of the economy of this state, benefiting the state | ||
| as a whole, yet only seven percent of this state's population | ||
| resides in that territory; and | ||
| WHEREAS, Many coastal residents and property owners included | ||
| in that seven percent of this state's population are among the | ||
| 234,861 policyholders of the Texas Windstorm Insurance | ||
| Association, the insurer of last resort in this state; and | ||
| WHEREAS, The Texas Windstorm Insurance Association has | ||
| increased certain rate filings by five percent each year in seven of | ||
| the last eight policy years, although large parts of the territory | ||
| have not suffered a hurricane in more than 40 years; and | ||
| WHEREAS, The unchecked five percent increases in rate | ||
| filings: | ||
| (1) disproportionately burden coastal residents and | ||
| property owners when the risk may be better spread across the state; | ||
| and | ||
| (2) may discourage the economic viability and growth | ||
| of the coastal territory and, thus, the state; now, therefore, be it | ||
| RESOLVED, That the 85th Legislature of the State of Texas, | ||
| 1st Called Session, hereby request the lieutenant governor and the | ||
| speaker of the house of representatives to create a joint interim | ||
| committee to study the reasonableness and appropriateness of | ||
| limiting the amount of change in rate filings by the Texas Windstorm | ||
| Insurance Association used without prior approval of the | ||
| commissioner of insurance under Sections 2210.351 and 2210.352, | ||
| Insurance Code, to: | ||
| (1) 101 percent of the rate in effect on the date on | ||
| which the filing is made; and | ||
| (2) for an individual rating class, one percent higher | ||
| than the rate in effect for that rating class on the date on which | ||
| the filing is made; and, be it further | ||
| RESOLVED, That the committee submit a full report, including | ||
| findings and recommendations, to the 86th Legislature before it | ||
| convenes in January 2019. | ||
