Blow Me Down: Texas Coastal Residents Face Insurance Rate Hike

Episode Transcript

Speaker 1 (00:00):
The Texas Windstorm Insurance Association is meeting this week to
consider a ten percent premium increase in the aftermath of
Hurricane Barrel. Texas insurance adjuster Ron Snopfer says the TWIA
is having to cover more people who can't get private insurance.

Speaker 2 (00:13):
Less and less insurers are willing to.

Speaker 3 (00:15):
Risk place an insurance on the coastline.

Speaker 2 (00:17):
So there's less options, which means you're going to be
forced into insurance or having to go with TWEA because
insurance companies still want to be taking the risk of
being on the hook for a huge Catasrophy claims.

Speaker 1 (00:28):
The TWIA expects total claims from Beryl to exceed two
hundred million dollars. The Texas Insurance Commissioner has to sign
off on any rate increase. Corey Jolson News Radio seven
forty KTRH