The Commissioner of Insurance, under Commissioner´s Order No. 98-1500, and pursuant to Texas Insurance Code Article 21.49, §8D, has adopted increases in the maximum limits of liability for windstorm coverage written through the Texas Windstorm Insurance Association (TWIA) formerly the Texas Catastrophe Property Insurance Association (TCPIA).
Article 21.49, §8D provides that no later than September 30 th of each year, the TWIA shall propose for approval by the Commissioner adjustments to the limits of liability for inflation. The Commissioner adopted proposed adjustments to the maximum limits of liability for the following:
1) a dwelling, including an individually owned townhouse unit, and the corporeal movable property located in or about the dwelling, and as an extension of coverage, away from those premises, as provided under the policy;
2) individually owned corporeal movable property located in an apartment unit, residential condominium unit, or townhouse unit that is occupied by the owner of that property, and as an extension of coverage, away from those premises, as provided under the policy; and
3) a structure other than a dwelling or a public building and the corporeal movable property located in that structure and as an extension of coverage, away from those premises, as provided under the policy.
In accordance with the provisions of Subsection (b) of Section 8D, the Commissioner adopted no change in the maximum limit of liability for a building and the corporeal movable property located in the building that is owned by, and at least 75 percent of which is occupied by, a governmental entity, or that is not owned by, but is wholly and exclusively occupied by, a governmental entity.
The new maximum limits of liability, applicable to TWIA policies effective on or after January 1, 1999, are as follows:
| Previous Limits | Revised Limits | |
|---|---|---|
| Dwellings and Individually Owned Townhouses and Corporeal Moveable Property | $355,000 | $365,000 |
| Apartments, Residential Condominiums, or Townhouses | $1,551,000 | $1,584,000 |
| Individually Owned Corporeal Moveable Property in Apartments, Condominiums, or Townhouses | $127,000 | $131,000 |
| Governmental Buildings and Corporeal Moveable Property | $2,192,000 | $2,192,000 |
| Commercial Buildings and Corporeal Moveable Property | $1,551,000 | $1,584,000 |
Questions regarding this bulletin may be addressed to:
Texas Department of Insurance
Attn: Larry Dunbar
Manager, Homeowners/Windstorm, MC 104-1F
P. O. Box 149104
Austin, TX 78714-9104
512/322-2266
David P. Durden
Deputy Commissioner
Automobile And Homeowners Division