Texas Windstorm Insurance Association (TWIA) News

TWIA Committee Recommends $6.5B as PML for 2024 Storm Season

The Texas Windstorm Insurance Association’s Actuarial & Underwriting Committee met on February 13 and voted unanimously to recommend the TWIA Board of Directors establish $6.5 billion as the Association’s 1:100 probable maximum loss (PML) for the 2024 storm season. The …

TWIA to Consider 1:100 PML for 2024 Storm Season at Upcoming Meeting

The Texas Windstorm Insurance Association’s (TWIA) Actuarial & Underwriting Committee will meet on Tuesday, Feb. 13 to discuss and potentially make a recommendation to the Board of Directors for determining TWIA’s statutorily required 1:100 probable maximum loss (PML) for the …

TWIA Board Votes to Maintain Agent Commissions at 16% After Hearing Testimony on Impact

The Texas Windstorm Insurance Association held its final quarterly meeting on Dec. 12 in Corpus Christi, where the board of directors voted to approve the association’s budget for 2024. The board also voted to keep agent commissions unchanged after listening …

TWIA Board of Directors to Consider 2024 Budget at Upcoming Meeting

The Texas Windstorm Insurance Association (TWIA) Board of Directors will meet next week to consider the association’s 2024 budget. The meeting, which will be held at the Corpus Christi Omni Hotel on Dec. 12 at 9:00 a.m., will also include …

Climate Change, Natural Disasters Sent Texas Homeowners Insurance Rates Skyrocketing in 2023

Insurance companies across Texas have dramatically increased home insurance rates this year, state filings show, as climate change spooks executives and inflation pushes up costs to rebuild after natural disasters. Texas is prone to hurricanes and flooding, both of which …

TWIA Expects Policy Count to Grow in 2024, Reaching 265,000 by Year End

The Texas Windstorm Insurance Association (TWIA) expects policy count to continue to grow in 2024, the association’s Board of Directors said at an Oct. 31 meeting to review information related to the 2024 budget. Policies in-force are projected to increase …

TWIA Board to Hold Interim Meeting to Discuss 2024 Budget

The Texas Windstorm Insurance Association (TWIA) Board of Directors will hold an interim meeting on Tuesday, October 31 at 10:00 a.m. CT to review preliminary information about the Association’s 2024 budget. TWIA staff will preview the 2024 budget ahead of …

TWIA Board Votes Down Recommended Rate Increases

Though an analysis found rates at Texas’ insurer of last resort to be about 20% inadequate, its board on Tuesday did not come to an agreement to file for any rate increases. The board of the Texas Windstorm Insurance Association …

TWIA Committee Recommends 5% Increase in 2024 Residential Rates, 8% for Commercial

The Texas Windstorm Insurance Association Actuarial & Underwriting Committee met Tuesday, July 11 and voted to recommend increasing rates for residential policies by 5% and commercial policies by 8% for 2024. The TWIA Board of Directors will vote to approve …

TWIA Committee to Review 2023 Rate Adequacy at July Meeting

The Texas Windstorm Insurance Association (TWIA) Actuarial and Underwriting Committee will meet July 11 to review the association’s 2023 rate adequacy analysis. TIWA’s rate analysis for 2023 indicates that current rates are inadequate by 20% for residential coverage and 22% …