Lt. Gov. David Dewhurst Seeks Shut Down Of Insurance Provider

AUSTIN, Texas (AP) — Texas Lt. Gov. David Dewhurst has asked lawmakers to consider shutting down a windstorm insurance provider for coastal Texans.  

Dewhurst asked a state Senate committee Tuesday to look at phasing out the Texas Windstorm Insurance Association. Dewhurst says if Texas ever was hit with severe hurricanes in a single year, the state could be on the hook for the billions of dollars in claims.

Texas lawmakers started the association in 1971. It provides windstorm and hail coverage for those who can't get it from the voluntary market. The association holds more than 270,000 policies with up to $77 billion in insurance coverage.

The association says it will help lawmakers in any way it can in considering windstorm insurance options for policyholders along the Texas coast.