From the Texas Observer:

In effect, TWIA is incentivizing people to stay in harm’s way. The increasing risk of living on the coast is being reflected in insurance premiums, said Josiah Neeley, the Texas director of the R Street Institute, a libertarian, Washington, D.C.-based think tank. “From a risk management perspective, if the rates that properly insure a property are so high that no one can afford it, that’s a signal about how risky a property is and whether you want development in that area,” he said. “As more people move to Texas and as you have more growth, that problem ends up being aggravated.”