Keeping Insurance Rates Reasonable

Without action, Coastal bend homeowners stood to suffer the epitome of a "double whammy" through skyrocketing rate increases to our flood and windstorm insurance. Im working hard to ensure this doesnt happen.

To keep flood insurance rates reasonable for Texas homeowners, I voted in support of the "Homeowner Flood Insurance Affordability Act," and Im pleased to share the bill passed the House on March 4th. This bill provides much-needed reforms to the national flood insurance program, putting the program on a path to financial viability and granting relief to Texans facing skyrocketing flood insurance rates with workable, long-term solutions to cap premium spikes and offer economic certainty to homeowners. The Homeowner Flood Insurance Affordability Act guarantees just that: that flood insurance remains affordable to all Americans. This bill ensures that Coastal residents in hurricane-prone areas wont be put out of their home because they can’t afford the flood insurance anymore.

Last week in Corpus Christi, there was also an important hearing on the Texas Department of Insurance’s proposed changes to Coastal residents windstorm insurance rates. TDI held a public hearing Wednesday on the rules its putting forth that would affect the windstorm insurance policies for the Coastal Bend region and surrounding area. To selectively target Coastal county residents with proposed surcharges on their windstorm insurance is not only wrong, but it’s borderline discriminatory to those who live and work on the coast. And I wanted to make sure TDI knows this. Because my official duties required my being in DC Wednesday for Committee hearings and votes on the House floor, I sent my Chief of Staff Bob Haueter to the TDI public hearing, with a letter from me in tow. During the hearing, Bob read my letter outlining my concerns with TDIs proposal to the community members and Texas Department of Insurance officials gathered, including Commissioner Julia Rathgeber. The letter is below:

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