The Texas Windstorm Insurance Association recently notified agents that its waiver surcharge program for residential dwellings has been extended to Sept. 1, 2009.
June 1 marked the third anniversary of the residential waiver program in its current status, with the rules as they were originally established. After Sept. 1, 2009, it is likely the waiver will continue for new policyholders who qualify.
Between now and then the rules for WPI-8 (certificates of compliance)waiver eligibility will be reviewed and appropriate changes made for new waiver applicants. The insurer stated it would update agents with a follow-up bulletin sometime in August regarding program changes/continuation.
On Nov. 1, 2008, the surcharge for the waiver of WPI-8s on residential policies increased from 10 percent to 15 percent.
TWIA is the state’s property insurer of last resort for wind and hail damage along the Texas coast.
Source: TWIA, www.twia.org
Topics Catastrophe Natural Disasters Texas Carriers Windstorm
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