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Mar 15, 2014

 

 The answer my friend is blowing in the wind(storm).

A few weeks ago I attended a dinner with State Insurance Commissioner. After a good meal, followed by questions and answers I determined the following:


  • The State Insurance Commission is charged with implementing the insurance code as established by the State Legislature.
  • Part of that code states that, after a storm, if there is not enough money in the TWIA account to pay all claims, public securities may be sold to cover the shortfall.
  • To repay the securities the using a premium surcharge. This surcharge will be on all property policies including automobiles.


There are many pages of this but the problem lies in the fact that there are only 14 counties under TWIA policies. Many private insurance companies have refused to write windstorm insurance.

As long as the rest of the state segregates these 14 counties there is not a real answer. You can chose not to have windstorm on your property if it is paid for but if you want a loan on a home, business or other property the lender will require windstorm insurance. If it becomes too expensive some people will have to settle for a smaller or less expensive home to qualify for the loan. This issue is a real blow to our economy. The legislators in the 14 county area know the problem and will continue to introduce alternative legislature to address the problem but the legislatures of the other 200 plus counties will not support them. Once again “If we chose to live near the coast it is our problem.

My only answer is, “Well, when you wanted us to pass legislation to appropriate 2 billion dollars for water projects, we helped you.” I could have said, “If you chose to live in a dry area that is your problem. We have enough water.”

 

Chamber Celebrates 114th Annual Banquet

Five hundred and fifty members and friends crowded into the Bob Bowers Civic Center to enjoy Andy Andrews speak about positive avenues to success. Mr. Andrews was preceded by the recognition of retiring directors, committee chairpersons and incoming directors. Outgoing Chairman of the Board Conrad Cooper received his award and presented Incoming Chairman of the Board with his gavel. Both shared their thoughts over what was accomplished and what was to be accomplished.

Following a great meal, catered by Moncla’s, Dr. Monroe was recognized as the recipient of the Arthur E. Stilwell award for 2013 and accepted with brief and elegant remarks about Stilwell and other past leaders of our community.

It was great to get this, once iced out, event completed.

 

Chamber Website

We have been working on our website to make it more user friendly. We have designed an Icon type front page. You simply click on the Icon that best represents what you are seeking. We’ve added links to other information sites. If you are a member you can use your password to create your own company page. On this page you can recognize employees, create coupons or add photos of your company. If you visit the site at www.portarthurtexas.com and find a problem please contact us. We are not website creators but I think we are ahead of the Health Care site.

 


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