View this article online: https://www.insurancejournal.com/news/southcentral/2020/10/16/586822.htm
The Texas Windstorm Insurance Association (TWIA) has reminded agents that it will be enhancing its current payment processes and adding new online payment options for policyholders.
This web post is about changes to how and where to mail checks and money orders to TWIA. The new process will allow for quicker posting of payments by using a secure lockbox provided by Bank of America.
Note: No changes are being made to ACH or eCheck payments. These options remain the fastest payment methods.
1. Preferred Mailing Method: A new TWIA PO Box mailing address. Starting October 21, payments mailed with the payment coupon by USPS to the new PO Box address below will be posted using the date the payment is received and applied to the policy the next business day. The new PO Box is a secure lockbox with Bank of America dedicated for processing TWIA premium payments.
TWIA
PO BOX 843146
Dallas, TX 75284-3146
This change reduces the amount of manual payment processing by TWIA staff, allowing us to post payments faster for our policyholders.
2. Expanded Approved Mailing Methods: A new option to submit payment to our physical address by traceable mailing methods. While mailing payments to the secure lockbox is TWIA’s preferred mailing method, TWIA will still process payments mailed to our physical mailing address by the following approved traceable methods:
This option is recommended for those mailing payments close to the due date and concerned about their payment arriving late. Payments sent by any of the traceable mailing methods listed above will be posted using the date the payment was mailed. Agents and policyholders should use the following address for these approved mailing methods:
TWIA
5700 South Mopac Expressway, Building A
Austin, TX 78749
You and your clients may mail payments to either address. The mailing method you select will determine the posting date of the payment.
Source: TWIA