The Actuarial & Underwriting Committee of the Texas Windstorm Insurance Association (TWIA) met this past week to consider the development of recommendations to the Association’s Board of Directors concerning rate filings as permitted by law, rate adequacy issues, and strategies.

The Committee discussed written comments submitted by TWIA staff in response to issues raised by the Committee during its last meeting in October. The Committee also received both written and in-person comments from the public on the Association’s rate adequacy analysis.

The Committee voted to recommend to the TWIA Board that the Association make a proposed rate filing for a five percent increase for both commercial and residential risks with the Texas Department of Insurance (TDI).

The Committee also voted to recommend to the TWIA Board that they direct TWIA staff to provide additional written information to the TWIA Board, the Committee, and TDI on issues discussed at the meeting related to TWIA’s rate adequacy analysis within three months following the TWIA Board’s meeting Dec. 10.

Committee Chair Debbie King will present the Committee’s recommendations to the TWIA Board at its regularly scheduled quarterly meeting Dec. 10 in Corpus Christi. The agenda for this meeting has not yet been published.

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