Texas Sen. Moves To Phase Out Homeowner Insurance Pools

Law360, Houston (February 27, 2013, 11:15 PM EST) -- A Texas lawmaker on Tuesday proposed legislation that would create a property insurance program designed to reduce the financial burden on the state’s disaster insurance pools by regulating their growth and migrating residential policies to the open market.

Authored by Sen. John Carona, R-Dallas, S.B. 18 would limit the ability of the Texas Windstorm Insurance Association and the Texas Fair Plan Association to renew or issue new homeowner’s coverage, and to facilitate the transfer of existing residential policies to private insurers, it would establish the Texas...
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