Texas Watch—Consumer Protection. Corporate Accountability. Citizen Advocacy.

The governing board of the state-backed windstorm insurer might ask regulators for a 5 percent increase on residential and commercial policy rates.

The Texas Windstorm Insurance Association board of directors is expected to take up the issue at its quarterly meeting Tuesday in Galveston.

The board is expected to discuss the topic, but might not take action.

Texas Insurance Commissioner Mike Geeslin would have to approve a rate increase.

Citing hardships endured by coastal residents after Hurricane Ike, Geeslin in October denied the association’s request to raise rates by 10 percent.

The association has not won a rate increase since Nov. 18, 2008, when Geeslin approved a 12.3 percent increase for residential rates and 15.6 percent for commercial policies.

Those unprecedented hikes were to shore up agency funding depleted by the Hurricane Ike, which struck in September 2008.

The windstorm association, insurer of last resort in 14 coastal communities, is made up of all casualty and property insurers in Texas.

If the board sought and won an increase the new rates would take effect Jan. 1.

Read More: Galveston County Daily News