Coastal Consumers Page

huricane trees

We created the Coastal Consumer Page to provide insurance consumers along the coast with a resource to arm them with the knowledge to make informed decisions regarding their coverage. On this page you will find OPIC consumer brochures, policyholder notices, links to rules, and other regulatory actions affecting coastal consumers and important news impacting the Texas coast.

Brochures

COASTAL CONSUMER BROCHURES

		COASTAL STORM CONSUMER HELP BROCHURE: Insurance Tips to Help You Before and After a Storm You can never be over prepared for hurricane season. This brochure provides advice on how to ensure that your property is adequately covered prior to a storm making landfall. It also includes tips on what you should do in the event that a tropical storm or hurricane damages your home.

		HOMEOWNERS INSURANCE AND THE TEXAS COAST: What You Need to Know. Homeowners coverage can be a complicated issue for most Texas residents and it can be particularly complex if you live on the Texas coast. This brochure provides an overview of the different types of coverage you may need to protect your coastal property.

To open the brochures on this page you must have a copy of Adobe Acrobat Reader. You can download a free copy of Acrobat Reader here.

Legislative Changes

HB 3 - Important Changes

The 82nd Legislature enacted House Bill 3, which revised several operational aspects of the Texas Windstorm Insurance Association (TWIA). The bill also changed the timelines for claims handling and created a new dispute resolution for TWIA claims. These changes went into effect for policies issued on or after November 27, 2011. If you are a TWIA policyholder, it is very important that you familiarize yourself with how these changes will impact future claims. Click here for a summary of the most important changes impacting policyholders.

Regulatory Information

REGULATORY INFORMATION

You can find rules and important regulatory information below:

TWIA Plan of Operation (28 Texas Administrative Code, Section 5.4001)

House Bill 3 (enrolled version)

Pending Texas Department of Insurance Rules Related to TWIA

TWIA Rule Sumbissions

Understanding Your Homeowners Deductibles

What is a deductible?

A deductible is the portion of a covered loss you must pay before your insurance company pays for any of the loss. Typically, your insurance company will simply subtract the deductible from the total amount of your claim, rather than requiring you to pay the deductible up front.

Should you consider buying Loss Assessment Coverage?

It is becoming more common for Texas property owners to be subject to a homeowners association (“HOA”). While HOAs have long been associated with condominium ownership, more single-family subdivisions now have HOAs. HOAs have definite benefits for property owners. They allow owners to jointly cover common expenses and add amenities for the common use of the HOA members at a much lower cost than if each member purchased the amenity or covered the expense individually. While the benefits of HOAs are evident, one of the risks isn’t: the loss assessment risk.

List of the companies writing the Standard HO-B

Are you looking for a company that writes the standard HO-B homeowners policy? The following companies on our comparison tool presently write the HO-B:

AMEX Assurance Company

Apex Lloyds Insurance Company

Armed Forces Insurance Exchange

ASI Lloyds (newly constructed homes only)

Austin Indemnity Lloyds Insurance Company

Balboa Insurance Company

Chubb Lloyds Insurance Company

Dallas National Insurance Company

Delta Lloyds Insurance Company of Houston

Federal Insurance Company

GeoVera Insurance Company

Imperial Fire and Casualty Insurance Company

Lincoln General Insurance Company

Middle States Insurance Company, Inc.

National Specialty Insurance Company

Republic Underwriters Insurance Company

Southern Insurance Company

Southland Lloyds Insurance Company

Stonington Lloyds Insurance Company

Trinity Universal Insurance Company

Unitrin Safeguard Insurance Company

Universal Insurance Company of North America,

U.S. Lloyds Insurance Company

OPIC Argues Case Seeking Refunds for State Farm Lloyds Policyholders Before Third Court of Appeals

AUSTIN—On December 14, 2011, Public Counsel Deeia Beck presented argument before the Third Court of Appeals in Austin in support of the refunds awarded to policyholders by former Insurance Commissioner Mike Geeslin in the State Farm Lloyds litigation. The Justices took the matter under advisement and will issue a decision after they have made their determination.