The Texas Windstorm Insurance Association Board of Directors will hold an interim meeting on March 22 at 1:30 p.m. CT to determine TWIA‘s catastrophe funding and reinsurance needs for the 2022 hurricane season.
The Board will review catastrophe model results provided by Aon. As required by state law, the Board will determine the level of catastrophe funding required to pay and adjust claims for a hurricane season with a probability of one in 100 (1:100 Probable Maximum Loss) and give direction to staff and reinsurance broker Gallagher Re regarding the purchase of reinsurance for the 2022 hurricane season to meet this required funding level.
The Board will not consider any changes to TWIA rates at this meeting.
All meetings of the TWIA Board of Directors and its committees are open to the public. The public may attend and make public comment in person at TWIA’s office in Austin or virtually via Zoom. Members of the TWIA Board and staff may participate in the meeting in person or virtually. The meeting will also be livestreamed on YouTube.
Members of the public can submit written comments via email at PublicComment@TWIA.org. Interested parties are encouraged to submit comments by noon on Friday, March 18, to enable the Board to receive and review them before the March 22 meeting. TWIA staff will provide the Board with all written comments regardless of when the Association receives them.
Written comments submitted to TWIA are subject to the Texas Public Information Act. TWIA will post public comments received, with personally identifiable information redacted, on its website.
Members of the public can provide verbal comments to the Board during the designated public comment portion of the meeting. Anyone wishing to make public comment during the meeting must attend the meeting at TWIA‘s office in Austin or register and log into the meeting via Zoom on a computer, tablet, smartphone, or telephone.
Anyone attending the meeting at TWIA‘s office in Austin is encouraged to follow the latest CDC guidance in regards to mask wearing and comply with social distancing protocols. A limited number of TWIA staff will be on-site to facilitate the public comment process.
Source: TWIA
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