Agents

Do agents have to participate?

No, depopulation is completely voluntary for all parties. Senate Bill 900 in the 2015 Legislative Session, which authorized the two current depopulation programs at TWIA, does not require that agencies or insurance companies participate in the program.

How do I know if my customers have offers?

Agents will receive notification from TWIA by mail and by email to let them know if their customers have offers. Any communications to policyholders during the policyholder period (such as reminders of the ability to remain with TWIA) will be copied to the agent by email.

What if I want the policies to stay with TWIA?

No action is required if agents wish for policies to remain with TWIA. The policy will continue with TWIA without interruption, unless you select a participating company in Policy Center by May 31 of the program year.

Who are the insurers participating in the TWIA depopulation programs?

Insurers who are authorized to write insurance in Texas with forms approved by and rates filed with TDI are eligible to participate in the programs. These insurers must sign a Non-Disclosure Agreement (NDA) and Participation Agreement to access policy data. In addition, participating insurers in the Assumption Reinsurance Depopulation Program are subject to financial stress […]

What is the process for agents contracting with depopulation companies?

What are next steps after we choose a carrier?

Once you have a contract with a carrier, select the policies you want to approve. Beginning in December of the program year, both the depopulation company and TWIA will be contacting the policyholder with additional information.

Will agents receive the same commissions with insurers participating in depopulation?

State law outlines that offers under the Assumption Reinsurance Depopulation Program be executed under the prevailing terms, conditions, and commissions of the agent. Under statute, these terms are required to be protected for a period of three years.

Can policyholders that transfer to another insurer through depopulation come back to TWIA?

Policyholders may return to TWIA at any time after accepting an offer of coverage from a participating insurer. TWIA’s general eligibility requirements, including Certificates of Compliance (WPI-8s, WPI-8-Es, or WPI-8-Cs), will apply.

Do policyholders need to sign off for us to approve offers?

No. Policyholders will have the ability to indicate they would like to remain with TWIA after you approve the offers.

How do policyholders remain with TWIA?

During the policyholder phase of the program (starting in December each year), policyholders can indicate they wish to remain with TWIA, and not participate in the Assumption Reinsurance Depopulation Program. Policyholders can remain with TWIA by calling their agent or returning the detachable form in the postage paid envelope that is delivered with their notice […]

Will the policy be automatically taken out?

No. Under the Assumption Reinsurance Depopulation Program, policy offers must be approved by the agent of record to be transferred to the new insurer. If the policyholder takes no action, the policy will transfer to the new insurer on March 1 of the program year. Policyholders are able to indicate they want to remain with […]

What happens to policies that renew during this process?

Policies effective prior to May 1 of the program year will renew with TWIA through the standard renewal process. Policies effective on or after May 1 of the program year will renew with the depopulation company through their renewal process.

What happens if I approve an offer with one company but the policyholder wants to move to a different company?

Policyholders and agents always have the freedom to place business with the company of their choice.

When will we know the premium amount?

The depopulation company will begin renewing policies effective May 1 of the program year. You will receive renewal information, including specific premium amounts, from the depopulation company as each policy renews. Please note that the policy’s premium may be different than TWIA’s premium but must not be more than 15% higher than the current premium […]

What will new coverage and service look like?

Depopulation companies are required to offer comparable coverage. Specific information about underwriting rules and payment plans is available from the companies.

Are there any restrictions on the depopulation carriers about offering non-wind coverage?

Depopulation carriers must offer wind coverage for three renewals. They may also offer other products outside of the depopulation programs.

How do I learn more about insurers participating in the depopulation programs?

TWIA has communicated to participating insurers to strongly recommend they send any marketing website they may have to TWIA. When we receive such website details, they will be available on the TWIA website. You can see the list of participating companies on TWIA’s website for links to individual companies’ information.

Will there be additional depopulations after this round?

Yes, the Assumption Reinsurance Depopulation Program will repeat annually.

How do I authorize a policy offer?

Agencies will receive a notice that they have offers and that they can review and approve them through TWIA Policy Center. Please note that before authorizing offers, the agency will need to enter into an agreement with participating insurers. Once the agency is contracted with the participating insurers, agents can select the carrier offer that […]

Will policyholders be contacted by the participating insurer?

Yes and no. No; participating insurers will not contact policyholders directly to make offers, since all offers will go through you, their agent. Yes; if your policyholder receives an offer and you approve it, the policyholder will begin receiving information and paperwork from the participating insurer. Policyholders will have 60 days to indicate they want […]

Will TWIA be contacting policyholders about depopulation?

Yes, but only if you approve the offer on that policy in Policy Center by May 31 of the program year. The policyholder will begin receiving information from TWIA and the depopulation company beginning December 1 of the program year, including information about how to remain with TWIA.

How about policies that have more than one offer?

For policies with more than one offer, agency users are encouraged to review any coverage information and company information that is made available to them, as well as discuss the various options with their policyholder. (If the companies provide a website with this information to TWIA; see the list of participating companies on TWIA’s website […]

Who do I contact for policy changes?

For the Assumption Reinsurance Depopulation Program, TWIA is responsible for policy changes until the new insurer issues the policy. The agent is responsible for identifying whether a policy is being transferred through the Voluntary Market Depopulation Program or the Assumption Reinsurance Depopulation Program and then deciding whether to contact TWIA or the new insurer.

How will losses be handled?

Under the Assumption Reinsurance Depopulation Program, any claims with a date of loss prior to March 1, 2022 will be handled to completion by TWIA. Losses reported after the assumption but with a date of loss prior to March 1, 2022 will also be handled by TWIA with monthly transfers of losses to the participating […]

What if agents have other questions?

For any agent questions not answered here, you can contact TWIA at (800) 788-8247.