The state insurance commissioner says the Texas Windstorm Insurance Association isn't currently sustainable.
Insurance Commissioner Eleanor Kitzman says it likely won't be sustainable until the state spreads the costs of risks associated with major hurricane strikes beyond just Texans living in coastal areas.
Kitzman told a special Texas House and Senate joint committee on Wednesday that simply raising insurance rates in high-risk areas isn't the only solution. She added, though, that coastal rates remain too low.
Kitzman said lawmakers, instead, should decide how broadly they want to spread the cost of risks.
The association is a nonprofit, state-supervised insurer of last resort for people who can't get private property insurance in coastal areas. Risks there are often so high that private insurers won't write policies.