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Texas HB 272 - Relating to the operation of the Texas Windstorm Insurance Association

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Texas HB 272 -  Relating to the operation of the Texas Windstorm Insurance Association


Highlights from the Bill


The association shall post on the association ’s Internet website the salary of each officer of the association and any bonuses paid to an officer of the association.
Flood Insurance
Notwithstanding Subsection (a),if all or any part of the property to be insured [which this subsection applies] is located in Zone A or another similar zone with a high level of flood risk or in Zone V or another similar zone with an additional hazard associated with storm waves, as defined by the National Flood Insurance Program, [and if flood insurance under that federal program is available,] the association may not issue an insurance policy for initial or renewal coverage unless evidence is submitted to the association that the property to be covered under the policy is also covered by a flood insurance policy  issued under the National Flood Insurance Program in an amount equal to or greater than the amount of coverage under the policy to be issued by the association. This subsection does not apply to property for which flood insurance is not available under the National Flood Insurance Program.
Deadline for Filing Claim: (1)require an insured to file a claim under the policy not later than the first anniversary of the date on which the damage or loss that is the basis of the claim occurs;
The commissioner, on a showing of good cause by a person insured under this chapter, may extend the one-year period described by Subsection (a)(1) for a period not to exceed 90 days.
The association may not issue coverage for the following structures, regardless of whether the structure is otherwise insurable property under this chapter:
(1)a wind turbine;
(2)a structure used primarily as a casino or othergambling establishment; or
(3)a structure used as a sexually oriented business,
(a) This section applies only to a claim filed under an association policy the issuance or renewal of which, under Section 2210.203(a-1), requires evidence of coverage by a flood insurance policy.
(b)The association may not pay or settle a claim described by Subsection (a) unless the person filing the claim provides evidence satisfactory to the association that, on the date of the loss that is the basis of the claim, the property insured under the association policy was also covered by a flood insurance policy in the amount required for issuance or renewal of the association policy under Section 2210.203(a-1).
Not later than the 30th day after the date a person insured under this chapter files a claim with the association, the association shall provide the person notice of whether the claim is accepted or denied and, if the claim is accepted, a written appraisal of the damage to the insured property


The Bill is the attachment below. 






Tim Griffith · 5/29/2011 7:37:55 AM

You do not mention the most important-alarming part of this bill: Binding Arbitration after the second estimate! Based on the performance of TWIA and its adjusters after Hurricane Ike, there has to be some recourse besides "what TWIA says". Until TWIA demonstrates that it can treat property owners fairly the threat of attorneys and lawsuits has to remain. I live in Jamaica Beach, West Galveston Island. My first estmate from TWIA was $1300, Second was $1600. I hired a public adjuster and 3rd estimate was $23,000. snd there was still damage not paid for. The PA is part of a suit against TWIA now. So, until TWIA demonstrates some fairness, this part of the bill neeeds to be deleted.

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