Relating to the process of selecting representatives of the insurance industry to serve on the board of directors of the Texas Windstorm Insurance Association.
Impact
The passage of HB3311 is expected to positively impact the regulatory framework around TWIA by removing unnecessary procedural obstacles. By repealing the outdated section, the bill facilitates a more direct and responsive approach to filling board vacancies. This change translates into quicker appointments which could be crucial during periods of heightened need, such as after a natural disaster when swift decision-making is essential for insurance claims and other related matters.
Summary
House Bill 3311 aims to streamline the process for selecting representatives from the insurance industry who serve on the board of directors of the Texas Windstorm Insurance Association (TWIA). The bill specifically repeals an outdated provision of the Insurance Code regarding the appointment process for these representatives. The intention behind this legislative move is to enhance the efficiency of how vacancies on the board are filled, ensuring that there are qualified nominees available during critical periods.
Sentiment
Overall sentiment surrounding HB3311 was supportive, with a strong indication from legislators that this bill would improve operations and governance within TWIA. The voting history reflects this sentiment, as the bill passed with a significant majority in both the House (Yeas 138, Nays 6) and the Senate (Yeas 31, Nays 0). The broad support suggests a consensus on the necessity of updating the statutory provisions governing the selection process.
Contention
While HB3311 did not appear to face significant opposition during the legislative process, some concerns were noted regarding the implications of removing specific provisions. Opponents may argue that such changes could undermine established procedures, though there was little dissent expressed during discussions. The primary focus was on ensuring that the bill would enhance responsiveness without compromising the integrity of the selection process.
Texas Constitutional Statutes Affected
Insurance Code
Chapter 2210. Texas Windstorm Insurance Association
Relating to the operation of the Texas Windstorm Insurance Association and the renaming of the Texas Windstorm Insurance Association as the Texas Coastal Insurance Association.
Relating to the operation of the Texas Windstorm Insurance Association and the FAIR Plan Association and the renaming of the Texas Windstorm Insurance Association as the Texas Residual Insurance Plan.