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TWIA to vote on a rate increase for coastal property owners

As you may know, the board has been trying to raise rates 5-percent a year since Hurricane Harvey.

CORPUS CHRISTI, Texas — There's word that the Texas Windstorm Insurance Association is again planning to vote on a rate increase for coastal property owners at a board meeting scheduled for March 23.

The board has been trying to raise rates 5-percent a year since Hurricane Harvey. So far, they've been unsuccessful. In fact, the last time the increase came up for a vote, the state insurance department denied the increase until the legislative session, which is currently underway. 

State Representative Todd Hunter said he's introduced legislation to change TWIA's rate making power.

Hunter said if the board votes to raise rates next week, he will continue to work to take their rate making power away.

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