The Facts

* TWIA’s market share along the coast grew from 17.9% of all residential properties in 2001 to 63.35% in 2012. 

* Here is the exposure for TWIA in three areas of the coast:

Galveston: $23.3 billion

Corpus Christi: $13.8 billion

Brownsville: $5.1 billion

* In the case of a strike by a Class 4 hurricane, here is the average projected loss in each area:

Galveston: $4.7 billion

Corpus Christi: $3.9 billion

Brownsville: $598 million

* At the start of the 2014 hurricane season, TWIA had somewhere around $211 million in the Catastrophe Reserve Trust Fund to pay claims.

* The number of TWIA policyholders increased from 68,756 in 2001 to 270,487 at the end of February 2014.

Recommendations

* Eliminate the Texas Windstorm Insurance Association.

* Replace TWIA with a true provider of last resort, much like the Texas FAIR plan for automobile insurance policies. 

* Require that the new windstorm rates be actuarially sound.

* Require that the new windstorm rates be higher than any competing private sector offers.