Published Date: September 22, 2020
TWIA Committee to Gather More Information on Rates and Modeling
The Texas Windstorm Insurance Association’s Actuarial & Underwriting Committee met today and reviewed a presentation and report by actuarial consulting firm Willis Towers Watson (WTW) on TWIA’s rate adequacy and use of hurricane modeling in estimating potential losses in its rate-setting process. The Committee voted to direct TWIA staff to work with WTW to gather additional […]
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Published Date: September 08, 2020
Public Invited to Comment as TWIA Committee Considers Independent Rate Report and Rate Change Recommendation at September 22 Meeting
The Texas Windstorm Insurance Association’s (TWIA) Actuarial & Underwriting Committee will meet on Tuesday, September 22 to review an independent report on TWIA’s rate adequacy and make a report/recommendation to the Board of Directors. The meeting will be held via Zoom and members of the public are invited to participate and provide comment (see additional […]
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Published Date: August 29, 2020
Moratorium Lifted
On Saturday, August 29, 2020, at 12:01 a.m., TWIA lifted the policy application moratorium and is accepting new or increased coverage applications. Policies that were submitted during the moratorium will be reviewed and the effective dates will be adjusted to 12:01 a.m., August 29, 2020, if the requested date was during the moratorium. Follow us […]
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Published Date: August 28, 2020
Moratorium Remains in Effect. Here’s Why.
Currently, the Texas Windstorm Insurance Association is still operating under a policy moratorium and not accepting applications for new or increased coverage. Per the TWIA Plan of Operation, we will remain under moratorium until the TWIA General Manager determines that Laura no longer threatens property within the designated catastrophe area of the Texas Windstorm Insurance […]
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Published Date: August 27, 2020
Hurricane Laura Updates
Hurricane Laura made landfall early morning on Thursday, August 27. Initial claim numbers are lower than anticipated; however, we are just beginning our assessment of the impact of this storm. We will begin sharing claim counts next week. Regardless of the number, we are here to serve our policyholders when they need us most. Here […]
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Published Date: August 25, 2020
TWIA Moratorium Extended
Hurricane Marco was downgraded to a tropical depression before briefly making landfall in Louisiana and dissipating. Although Marco no longer poses a threat to the TWIA coverage areas, Hurricane Laura has entered the Gulf of Mexico and continues to strengthen. The TWIA moratorium on accepting new and increased coverage applications remains in effect until further […]
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Published Date: August 23, 2020
Policy Moratorium in Effect
4/18/2022 Update: Starting April 18, 2022, TWIA policyholders can report a claim online in Claims Center or the Policyholder Portal. Click here to learn which one you are eligible to use. The United States Weather Bureau has upgraded Tropical Storm Marco into Hurricane Marco, and it is already within the boundaries of 80 degrees west […]
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Published Date: August 21, 2020
CAT Plan Activated
We are closely monitoring developments related to Tropical Storm Laura and Tropical Depression 14 in the Caribbean. Considering the uncertainty surrounding the ultimate paths of these storms, TWIA has activated our Catastrophe (CAT) Plan out of an abundance of caution. Activating our CAT Plan allows us to start readying the resources we will need to […]
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Published Date: August 04, 2020
TWIA Board Directs 0 Percent Rate Filing, Votes to Revisit Rates Before December Meeting
The Board of Directors of the Texas Windstorm Insurance Association voted today for the Association to file a 0 percent rate change in its annual required rate filing with the Texas Department of Insurance. The Board also voted to revisit the issue of rates at an interim meeting of the Board to be scheduled before […]
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Published Date: July 24, 2020
Public Invited to Comment as TWIA Board Considers Annual Rate Filing at August 4 Meeting
The Board of Directors of the Texas Windstorm Insurance Association (TWIA) will meet via Zoom on August 4 at 9:00 a.m. CT. The Board is expected to consider the Association’s statutorily-required annual rate filing, among other issues. The meeting agenda is available on TWIA’s website. Members of the public are invited to provide comment on […]
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Published Date: July 16, 2020
Public Invited to Virtually Access July 27 Meeting of TWIA’s Legislative and External Affairs Committee
Listen to the livestream on YouTube. The Legislative and External Affairs Committee of the Texas Windstorm Insurance Association’s (TWIA) Board of Directors will meet via GoToWebinar on July 27, 2020 at 2:00 p.m. CT. The Committee is developing recommendations to TWIA’s Board of Directors regarding content of a report to the Texas Legislature that is […]
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Published Date: July 10, 2020
TWIA Begins Annual Rate Filing Consideration Process with July 21 Meeting of Actuarial & Underwriting Committee
The Texas Windstorm Insurance Association’s (TWIA) Actuarial & Underwriting Committee will meet via GoToWebinar on Tuesday, July 21 at 1:30 p.m. CT. The meeting will also be livestreamed on YouTube. The agenda for the meeting can be found here. The Committee will review the Rate Adequacy Analysis prepared by the Association’s actuarial staff and consider […]
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Published Date: July 01, 2020
Public Invited to Virtually Access July 13 Meeting of TWIA’s Legislative and External Affairs Committee
The Legislative and External Affairs Committee of the Texas Windstorm Insurance Association’s (TWIA) Board of Directors will meet via GoToWebinar on July 13, 2020 at 1:30 p.m. The meeting will also be livestreamed on YouTube. The agenda for the meeting can be found here. The Committee is developing recommendations to TWIA’s Board of Directors regarding […]
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Published Date: June 30, 2020
TWIA Selects Firm to Conduct Independent Actuarial Study of Rates and Hurricane Modeling
The Actuarial & Underwriting Committee of the Texas Windstorm Insurance Association (TWIA) Board of Directors has selected a firm to provide actuarial services to TWIA. The firm, Willis Towers Watson, will perform an independent study of TWIA’s rate adequacy and use of hurricane modeling in estimating potential losses in its rate-setting process. The selection was […]
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Published Date: June 08, 2020
TWIA Urges Policyholders to Prepare as 2020 Hurricane Season Begins
4/18/2022 Update: Starting April 18, 2022, TWIA policyholders can report a claim online in Claims Center or the Policyholder Portal. Click here to learn which one you are eligible to use. AUSTIN, TX – The Texas Windstorm Insurance Association (TWIA) urges coastal Texans to check their property insurance now to avoid surprises after a storm. […]
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Published Date: April 01, 2020
Temporary Payment Option in Response to COVID-19 Crisis
Update: This payment option ended on November 1, 2020. Effective November 19, 2020, policyholders can pay for their policy in two installments. TWIA must receive 50% or more of the premium to issue or renew the policy. In support of our policyholders, TWIA is responding to the COVID-19 crisis by: temporarily reducing the amount of […]
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Published Date: March 18, 2020
TWIA Preparations for Coronavirus
TWIA is closely monitoring the rapidly evolving COVID-19 Coronavirus situation. We are committed to continuing to serve our coastal communities while taking steps to protect the safety and health of our employees and those we do business with, including agents, policyholders, and other stakeholders. Here’s what we’re doing: TWIA remains open for business, continuing with […]
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Published Date: March 12, 2020
Upcoming Changes to the Windstorm Certification Process
Beginning June 1, 2020, the windstorm certification process will be administered solely by the Texas Department of Insurance (TDI). At that time: TWIA will stop accepting applications for Certificates of Compliance for completed improvements. TDI will begin issuing Certificates of Compliance for completed improvements. TDI will continue to issue Certificates of Compliance for new and […]
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Published Date: January 06, 2020
TWIA Using New Policy Contracts as of January 2020
All new and renewal TWIA policies with an effective date on or after January 1, 2020 will include updated coverages, terms, and conditions. Many of the changes are a result of recent revisions to the Texas Insurance Code by the Texas Legislature. We have summarized major changes below. More detailed explanations will be mailed to […]
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