Partly reflecting an increase in policyholders and exposure, a committee of the Texas Windstorm Insurance Association is recommending a $2 billion increase in catastrophe funding for the 2023 storm season.
Tag: Texas Windstorm Insurance Association
Despite Rate Inadequacy, Texas Windstorm Insurer Committee Urges No Premium Increases
Despite a finding earlier this month that current rates are inadequate for both residential and commercial coverages, an underwriting committee for Texas’ windstorm insurer of last resort voted Monday not to recommend a rate increase for its policyholders. The Texas Windstorm Insurance Association’s Actuarial and Underwriting Committee’s recommendation will now be forwarded to TWIA’s board… Continue reading Despite Rate Inadequacy, Texas Windstorm Insurer Committee Urges No Premium Increases
TWIA Raises 2020 Reinsurance Target to $2.1 Billion
The Texas Windstorm Insurance Association (TWIA) has increased its target amount of reinsurance protection for the 2020 catastrophe year to $2.1 billion, with the Board directing TWIA staff to place a mix of traditional reinsurance and catastrophe bond protection. In December of last year, TWIA said that it expects to purchase an aggregate amount of… Continue reading TWIA Raises 2020 Reinsurance Target to $2.1 Billion
TWIA Secures $2.1B of Private Market Reinsurance & Cat Bonds for 2019
The Texas Windstorm Insurance Association (TWIA) has completed its 2019 reinsurance program, securing $2.1 billion of private market reinsurance and catastrophe bond protection for the 2019 Atlantic hurricane season. TWIA’s 2019 reinsurance program is effective June 1st, 2019 and provides total aggregate funding of $4.2 billion. 50% of this is from the private reinsurance market… Continue reading TWIA Secures $2.1B of Private Market Reinsurance & Cat Bonds for 2019