TWIA Board of Directors Updates and Announcements
The Texas Windstorm Insurance Association held their quarterly meeting on May 12, 2020, to discuss an arrangement of topics within their agenda including additions to the board and legislative issues.
The Sunset Bill was discussed regarding conflict of interest issues related to the Association’s reinsurance modeling and purchase for annual hurricane season funding. The Sunset Commission requested language additions to the bill to prevent conflict of interest, however; it was not included. TWIA expects future legislation action to be taken over this request.
The Sunset Bill included updates to TWIA operations and determined the organization would undergo a Sunset review again in 11 years. A Sunset Advisory Committee adopted several recommendations which would increase TWIA effectiveness and efficiency, and the bill still aims to meet those goals.
TWIA Board Chair Chandra Franklin-Womack also welcomed two new members to the board of directors. Peggy Gonzalez, the vice president of Hughston Insurance Agency in Brownsville, Tx, will fulfill the role of Coastal and Designated Agency Representative. Board Chair Franklin-Womack also introduced Tim Garret, who will take on the role of Consumer Representative with over 30 years of experience in Lubbock real estate and Broker/Owner of the NextHome CORE Realty franchise. Both members were appointed by the Texas Insurance Commissioner during the month of April.