And you wonder why State Representative Larry Taylor is smiling while his district has some of the highest insurance rates in the nation? According to outgoing Texas Department of Insurance Commissioner, Mike Geeslin, the Texas Windstorm Insurance Association (last resort insurance for the coastal areas), is in serious trouble. From the Austin Statesman:
In a letter to Oliver, the state Insurance Department said that the
management of the windstorm association "does not have the experience,
competence or trustworthiness to operate TWIA in a safe and sound
manner."
And it only gets worse:
Also, according to the letter, Insurance Commissioner Mike Geeslin said
that he had determined that the Windstorm Insurance Association is "in a
condition that makes its continuation in business hazardous to the
public or to its policyholders."
So all the while State Representative Larry Taylor has been the mouthpiece and cheerleader for TWIA, it has become a hazard to the public. Pretty strong words and coming off the recent report of TWIA's mega-giveaways and Taylor's major conflict of interest. Let's review:
