rate inadequacy News

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% …

TWIA Study Showing Rates Inadequate by 26% and 44% Sent to Board

A study showing rates for Texas’ insurer of last resort for communities along the Texas coast are inadequate by 26% for residential policies and 44% for commercial properties has been forwarded to the board of the Texas Windstorm Insurance Association …

Texas Windstorm Insurer: Rate Inadequacy Up Year Over Year

In advance of its Aug. 6 board meeting in Galveston, the insurer of last resort for wind and hail in counties along the Texas coast said it has determined its residential coverage rates are inadequate by 41.7 percent and its …

Texas Windstorm Insurance Association: Rates Inadequate by More Than 30%

While the board of the directors of the Texas Windstorm Insurance Association voted at its recent quarterly meeting to raise rates for residential and commercial properties by 10 percent next year, the group acknowledges a rate inadequacy that is far …