FOR IMMEDIATE RELEASE
Contact: Jim Rich
Greater Beaumont Chamber of Commerce
1110 Park Street
Beaumont, TX 77701
State and local Leaders to Gather Regarding Crisis in Coastal Windstorm Insurance
Beaumont, TX - The Greater Beaumont Chamber of Commerce and the Greater Port Arthur Chamber of Commerce are hosting a Coastal Windstorm Conference. Coastal counties are facing an insurance crisis with the number of consumers who are being forced into the Texas windstorm pool and insufficient financial reserves to pay claims in the event of a disaster. Last week at a Senate interim hearing, the Texas Insurance Commissioner testified that Texas Windstorm Insurance Association is unsustainable and consumers cannot pay their way out of the problem with increased rates.
Citizens and stakeholders are invited to join their elected state representatives, state senators, county judges, mayors and business leaders from Corpus Christi, Galveston, Beaumont, Port Arthur, and 14 other coastal counties, as we seek solutions to the windstorm insurance crisis facing Texas. Everyone connected with commercial and residential homes sales, construction, insurance, and economic development should attend.
"Understanding the problem is the first step to a solution. Joining and forming partnerships with those affected is the second step. We have got to lend our collective voice to encourage insurance options and affordable rates for our area. We need to create a climate to bring the private insurance market back to the coast where 40% of the state's wealth is created and workers are needed to support industry and shipping," says Jim Rich, President of the Greater Beaumont Chamber of Commerce.
"The increasing cost of windstorm insurance through TWIA and the dwindling number of private insurance companies that will sell windstorm insurance threatens the economic growth of the Gulf Coast. The 14 counties that are covered by TWIA must unite if we are to have any chance of developing a strategy to solve the problem," says Bill McCoy, President of the Greater Port Arthur Chamber of Commerce.
The event is being held on Thursday, October 11 from 9:00am-1:00pm at the MCM Elegante' Hotel & Conference Center. Cost for attendance is $30 per person. Registration includes admission to forums and discussions as well as lunch. You may register online at bmtcoc.org or contact the Greater Beaumont Chamber of Commerce.
For any further information, contact the Greater Beaumont Chamber of Commerce at 838-6581 or the Greater Port Arthur Chamber of Commerce at 963-1107.