House panel to discuss insurance group's finances

AUSTIN, TX

Lawmakers have also invited officials from the Texas Department of Insurance and the Public Finance Authority to speak on the current condition of the Texas Windstorm Insurance Association's finances.

Lawmakers did not pass a bill during this year's legislative session to help shore up TWIA. Gov. Rick Perry did not add windstorm insurance to his call for the ongoing special session.

Officials have warned that TWIA is not financially sustainable. After Hurricane Ike in 2008, more than 1,900 policyholders sued it for failing to pay for legitimate damages.

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