Hurricane Harvey to take major toll on Texas insurer of last resort
“There is no way TWIA can keep going after a storm like this, charging what it does,” said Josiah Neely, an analyst from the R Street Institute, a public policy group with an office in Texas. He said much of the reluctance among lawmakers, which promoted the letter urging the board to keep rates static, is based on “political can kicking.”
Constituents call their representatives when they get an increase, Neely said, and that moves the politician to push for something that will help him or her stay in office.
The rate increases are painful for consumers, Neely acknowledged.
“The rates are lower now but there won’t be enough money at some point and the bill will come due,” he said. “It will have to be made up by ratepayers or taxpayers all over the state.”
