Timeline for TWIA’s Annual Rate Filing Consideration

Published on: June 24, 2024

Essential Information: 

  • TWIA is required to submit a rate filing to the Texas Department of Insurance by August 15 each year.  
  • Two-thirds of the TWIA Board of Directors must vote to approve a rate increase. 
  • TWIA rate filings are subject to review and approval by the Insurance Commissioner.  
  • TWIA accepts public comment on Association rates and other issues at all Board and Committee meetings.  
  • More information on TWIA rates is available on the Rates page.  

The Texas Windstorm Insurance Association’s (TWIA) annual rate filing consideration process is about to begin. 

By law, TWIA must make a rate filing with the Texas Department of Insurance by August 15 each year. TWIA’s Actuarial & Underwriting Committee will meet in July before the rate filing date to decide on a rate recommendation to TWIA’s Board of Directors. The Board then meets in August to vote on the rate filing to submit to the Department. 

Two-thirds of the Board must vote to approve the filing of a rate increase. All TWIA filings  are subject to review and approval by the Texas Insurance Commissioner. 

The public is invited to comment in writing, in person, or virtually at the meetings of TWIA’s Actuarial & Underwriting Committee and Board of Directors. Public comment information and meeting agendas will be posted to TWIA’s website before all scheduled meetings. 

More information on TWIA Board and Committee meeting dates and how to provide public comment is available on the Board Meetings section of the About Us page. 

TIMELINE – Below are key dates in TWIA’s annual rate filing consideration process: 

  • July 1, 2024: TWIA posts an annual Rate Adequacy Analysis to its website for public review. The Rate Adequacy Analysis is an estimate, prepared by TWIA’s actuarial staff, of whether rates are sufficient to cover the Association’s operating expenses and its expected losses from claims. 
  • July 15, 2024: The Actuarial & Underwriting Committee meets to review the Rate Adequacy Analysis, hear public comment, and develop a recommendation to the TWIA Board of Directors regarding TWIA’s August 2024 annual rate filing. 
  • August 6, 2024: TWIA’s Board of Directors meets to hear the recommendation from the Actuarial & Underwriting Committee and public comment and vote to direct staff regarding TWIA’s August 2024 annual rate filing. 
  • August 15, 2024: Statutory deadline for TWIA staff to make the annual rate filing with the Texas Department of Insurance. 
  • October 15, 2024: Statutory deadline for approval or disapproval of a TWIA rate filing by the Commissioner of Insurance. 

Members of the media with questions about TWIA’s rate filing consideration process may email MediaRelations@TWIA.org.