We read the recent guest column by Henry Freudenburg ("We will keep fighting for you against TWIA, The Daily News, Oct. 28) and in response, we at the Texas Windstorm Insurance Association want to let readers know that we take seriously the impact of rising insurance costs when considering rate changes. We also take very seriously our responsibility to comply with all laws and rules applicable to TWIA.
We understand and welcome differing opinions and judgements on the complex issues that factor into a determination of TWIA’s rate adequacy. However, it's important to be clear that the Actuarial & Underwriting Committee didn't determine that TWIA was out of compliance with the law. TWIA has very carefully followed the law throughout the process of considering and making its rate filings.
As the coast continues to recover from the effects of Hurricane Harvey, the TWIA board will continue to seek feedback from our stakeholders, along with making sure TWIA has the financial capacity to be there for our policyholders when they need us most.
John W. Polak
Texas Windstorm Insurance Association