Houston, Texas (PRWEB) November 07, 2013
Over a thousand homeowners can finally rest easy after settling their claims against the Texas Windstorm Insurance Association (TWIA).
The claims date back to 2008 and Hurricane Ike, which pummeled the Texas gulf coast and caused billions of dollars in damage. Homeowners along the coast took the brunt of the destruction and faced repair costs that often exceed five figures. In total, the claims represented by the Mostyn Law Firm settled for approximately $135 million. The amount is the result of TWIA wrongfully denying, delaying, or underpaying insurance claims.
“So many of our neighbors on the gulf coast have been waiting to truly rebuild for five years,” said Steve Mostyn, the Firm’s owner. “We’ve helped bring millions of dollars back into these communities. Small businesses can get back to work and neighborhoods can truly rebuild.”
The Texas Windstorm Insurance Association was created in 1970 as the insurer-of-last-resort for the Texas gulf coast residents. Insurance companies stopped providing basic wind and hail insurance to the region following Hurricane Celia, leaving the state as the only option to protect homeowners. The organization’s failure to pay legitimate claims to victims of Hurricane Ike in 2008 has resulted in over $500 million in settlements.
“We sent a powerful message to the state government to do more to fulfill their responsibility to gulf coast homeowners,” Mostyn said. “It would have been a lot less expensive, and much better for our communities, if they had met their obligations five years ago. We’re happy this is all behind us, but we need to remind our leaders that their responsibility is to the people.”
The settlement will be distributed to homeowners, businesses, and churches to repair lifted shingles, leaky roofs, and a variety of other damaged caused from strong wind. The Plaintiffs’ Steering Committee included attorneys Steve Mostyn, Craig Eiland, Mitchell Toups, and others. These attorneys collectively oversaw more than 10,000 cases that were unfairly and improperly handled by TWIA.
As a result of the handling of these cases, TWIA was under administrative oversight March 2011 by the Texas Department of Insurance. Litigation further revealed evidence of bad faith and kickbacks that resulted in a criminal investigation by the Public Integrity Unit of the Travis County District Attorney’s office.
Cause No. 12-CV-0053; League City v Texas Windstorm Insurance Association; 10th Judicial District Court of Galveston County, Texas
Please visit http://www.mostynlaw.com for more information about the Mostyn Law Firm.
About the Mostyn Law Firm
The Mostyn Law Firm is one the nation’s premier practitioners of mass action, consumer protection, and insurance litigation. Based in Houston, Texas, the Firm employs more than 125 employees in Austin, Beaumont, and Galveston. The Mostyn Law Firm also handles product liability, wrongful death, and personal injury cases.