TWIA Prepares Biennial Report for Texas Legislature; Assoc. Sees Limited Claims From Houston Storm

The Texas Windstorm Insurance Association Board’s Legislative & External Affairs Committee met on May 21 to plan the association’s Biennial Report to the Texas Legislature.

TWIA submits a biennial report to the Texas Legislature, the Insurance Commissioner, and the Sunset Advisory Commission in the year before a legislative session. By statute, the report must include:

• Any proposed changes in the laws relating to the regulation of TWIA,
• A statement of the reasons for the changes, and
• Any information regarding TWIA operations or procedures that is requested by the Texas Department of Insurance to be addressed in the report.

At the meeting the Legislative & External Affairs Committee provided direction on proposals to be included in a draft report to the Board for further consideration. The committee requested staff to provide additional information on some topics for a future committee meeting, including:

• Options to modify the requirement related to the appointment of judges presiding over cases of litigated TWIA claims,
• Potential statutory changes to allow the Association to pay claims from non-catastrophe years with premium and other revenue earned in a subsequent year

TWIA Sees Limited Claims Activity From Recent Houston Storm

The severe windstorm that hit Harris County late last week resulted in 665 Texas FAIR Plan claims and 67 TWIA claims as of Monday afternoon, according to a TWIA spokesman.

The FAIR Plan, which is administered by TWIA, is a residential market carrier of last resort. The FAIR Plan provides more general named-peril residential policies whereas TWIA coverage is limited to wind and hail coverage.

Claims reported to TWIA are generally in a broad line from south of Cypress in western Harris County through central Houston and east to the Baytown area.

Harris County has approximately 47,000 FAIR Plan policies, the most of any county.

Topics Texas Claims Windstorm