Texas Windstorm Insurance Association (TWIA) News

Committee Recommends No Rate Hike for Texas Windstorm Insurer

The Actuarial and Underwriting Committee of Texas’ insurer of last resort for wind and hail coverage for properties in the state’s coastal counties voted on July 21 to recommend a 0% rate increase to its board of directors. The Texas …

Texas Windstorm Insurer Outlines Funding for 2020 Hurricane Season

The board of directors of Texas’ property insurer of last resort for wind and hail in the state’s coastal counties in February set a goal of $4.2 billion in catastrophe funding for 2020. At a meeting of the Texas Windstorm …

Texas Delays FAIR Plan Rate Changes; OKs Windstorm Insurer Policy Forms

The Texas Department of Insurance has moved the effective date of approved rate changes for the state’s FAIR Plan from May 1, 2020, to Aug. 1, 2020. TDI said the date change was due to the impact of the coronavirus …

Texas Windstorm Insurer Lowers Initial Premium Amount Due; Extends Payment Deadline

Texas’ property insurer of last resort for wind and hail in counties along the state’s coastline is temporarily reducing the amount of premium due in order to issue a policy and providing 75 days to pay the remaining premium. The …

Implementation of New Texas Coastal Building Code Extended to September

The start date for implementation of the new building code standard for Texas’ property insurance provider for wind and hail in counties along the state’s coastline has been extended. The Texas Department of Insurance (TDI) issued an emergency rule to …

Texas Insurance Department: New Building Codes to Strengthen Coastal Properties

Texas insurance regulators have adopted stronger building codes for homes and buildings in counties along Gulf Coast. The Texas Department of Insurance (TDI) said the new construction standards apply any new building or property repairs in which the owner seeks …

Texas Windstorm Insurer Sets Funding at $4.2 Billion for 2020 Cat Year

The wind and hail insurance carrier of last resort for counties along the Texas coast has determined that its 1-in-100 probable maximum loss (1:100 PML) for the 2020 catastrophe year is $4.2 billion. At a quarterly meeting in Austin on …

Texas Windstorm Insurance Board to Meet Feb. 18 in Austin

The Texas Windstorm Insurance Association (TWIA) board of directors will hold its quarterly meeting on Feb. 18, 2020, at 9:00 a.m. in Austin. The agenda for the meeting is posted on TWIA’s website. All meetings of the TWIA board of …

Texas Insurance Department: Board, Committee Slots Open at SLTX, TWIA

The Texas Department of Insurance is accepting applications for a number of boards and committees, including for the Surplus Lines Stamping Office of Texas (SLTX) board of directors and the Texas Windstorm Insurance Association (TWIA) board. Two public member positions …

Texas Windstorm Insurer’s Actuarial Committee Recommends 5% Rate Hike

When the board of directors of Texas’ property insurer of last resort for wind and hail along the Texas coast meets in December, its members will be considering a 5% rate increase recommended by the organization’s actuarial and underwriting committee. …