How does depopulation affect TWIA policyholders?
Depopulation encourages more insurers to write wind and hail coverage on the coast with the intention of increasing the adequacy of the market for coastal residents. The program will affect policyholders by providing more freedom of choice, although not all policyholders will receive offers of coverage through the program.Read More
Am I going to get an offer?
Maybe. Depopulation will not affect all TWIA policyholders, as the participating insurers determine which policies to identify for offers. For some TWIA policyholders, options may increase, and for some, there will be no change.Read More
Will my information be included in the depopulation programs?
If I get an offer, what are my options?
Upon receiving an offer through the Assumption Reinsurance Depopulation Program, you can allow your policy to transfer to the new insurer by taking no action. Or, you can indicate you want to remain with TWIA by calling your agent or sending the detachable form in a pre-paid envelope (sent by TWIA with your offer notice […]Read More
Will I need to change insurance agents?
No, policyholders are always free to work with the agent of their choice.Read More
Can I 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-8, WPI-8-E, or WPI-8-C), will apply.Read More
Do I need to get a Certificate of Compliance even if I take the offer from the participating insurer?
Although participating insurers may not require Certificates of Compliance (WPI-8, WPI-8-E, or WPI-8-C), TWIA recommends you continue to get qualifying repairs certified in the event that in the future you need to come back to TWIA for your windstorm policy. TWIA’s general eligibility requirements, including Certificates of Compliance (WPI-8, WPI-8-E, or WPI-8-C), will apply.Read More
Will insurance companies be contacting me directly?
Not initially. Companies will not contact you directly to make offers, since all offers will go through your agent. If your agent approves the company’s offer, then, yes, you will begin receiving information and paperwork from the participating insurer starting on December 1 of the program year. You will have 60 days to decide whether […]Read More
Will my rates go up if I switch insurance companies?
Insurers participating in the Assumption Reinsurance Depopulation Program are required to offer rates comparable to TWIA (not more than a 15% higher premium) for a period of three years. After the three years, the participating insurer is able to charge any rate filed with the Texas Department of Insurance.Read More
What if I need to make a change to my policy?
If you allow your policy to be transferred to a participating insurer, you may wonder who to contact about policy changes. Your agent is the best resource to help inform you whether the policy changes should be sent to TWIA or the new company. Contacting your agent is the appropriate first step whether you are […]Read More
How do I report a claim after my policy has been assumed by the new carrier?
When reporting a loss, please verify the date of loss to determine the option to use. For policyholders who have decided to move to a new insurer, click the following link to read more about the claims process.Read More