On July 27, 2022, the Galveston Regional Chamber of Commerce, Senator Brandon Creighton, and State Representatives Mayes Middleton & Todd Hunter held a panel discussion at Galveston College with representatives from Texas Windstorm Insurance Association (TWIA) regarding the announcement that policyholders will see an automatic increase in their coverage on Sept 15, 2022.
On August 2, 2022, in Galveston, the TWIA Board will meet to vote on whether to increase rates. Any increase in rates will result in an increase in premiums. The average increase in coverage limits will be about 11%.
The Galveston Chamber encourages every business owner and resident to email TWIA at publiccomment@twia.org with the subject line: NO RATE HIKE to make sure TWIA adopts a 0% rate increase on August 2, 2022.
“Coastal communities are coming together because the affordability of living on the coast remains a primary concern for all of us,” said Gina M. Spagnola, president and chief executive officer of the Galveston Regional Chamber of Commerce. “We are advocating for our businesses and residents and their ability to continue to do business and live on the coast. It is our responsibility to make our voices heard. TWIA should consider the economic impact that our 14 coastal communities have not only on a state level, but on a national level when implementing these continuous increases.”
For more information, visit www.galvestonchamber.com or contact Gina M. Spagnola, president and chief executive officer for the Galveston Regional Chamber of Commerce at (409) 763-5326 or by email at gspagnola@galvestonchamber.com.
