Relating to funding of excess losses and operating expenses of the Texas Windstorm Insurance Association; authorizing an assessment; authorizing a surcharge.

Summary

The bill replaces the old funding rules for the Texas Windstorm Insurance Association with a new system that uses reserves, state‑backed financing, member assessments, and public securities to pay excess losses and operating costs after Dec. 31, 2025. It also lets the insurance commissioner impose a non‑refundable, tax‑exempt surcharge on policies when the association’s reserves are depleted. The changes affect the association, its member insurers, the state comptroller, and Texas policyholders in windstorm and hail‑risk areas.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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