Sec. 2210.001. PURPOSE. The primary purpose of the Texas Windstorm Insurance Association is the provision of an adequate market for windstorm and hail insurance in the seacoast territory of this state. The legislature finds that the provision of adequate windstorm and hail insurance is necessary to the economic welfare of this state, and without that insurance, the orderly growth and development of this state would be severely impeded. This chapter provides a method by which adequate windstorm and hail insurance may be obtained in certain designated portions of the seacoast territory of this state. The association is intended to serve as a residual insurer of last resort for windstorm and hail insurance in the seacoast territory. The association shall:
(1) function in such a manner as to not be a direct competitor in the private market; and
(2) provide windstorm and hail insurance coverage to those who are unable to obtain that coverage in the private market.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 5, eff. June 19, 2009.
Section: 2210.001 2210.002 2210.0025 2210.003 2210.004 2210.005 2210.006 2210.007 2210.008 2210.0081 2210.009 2210.010 2210.012 2210.013 2210.014 NextLast modified: September 28, 2016