I am happy to report that I just had a call notifying me as follows:
I have been notified that:
1.) TWIA has cancelled its Actuarial and Underwriting Committee meeting scheduled for Monday July 23, 2012.
2.) TWIA has determined to omit from its agenda any discussion at its August 7, 2012 Directors meeting in Galveston of territorial rates.
My understanding is that the TWIA board wants more time to study and discuss this issue. No indication is available as to possible action after August 7, 2012, but in view of the typical time needed to implement rate changes, it is hoped that the earliest date at which such changes could be expected is some months after the first of 2013.
CWIC appreciates this decision, which could possibly allow enough time for the Texas Legislature to consider alternatives more supportive of Coastal Texans and the Coastal Economy than those being cancelled.
Lee Otis "Otie" Zapp, Jr., Chair, Coastal Windstorm Insurance Coalition [CWIC]