Public Invited to Comment as TWIA Board Considers Annual Rate Filing at August 3 Meeting

Published on: July 23, 2021

The Board of Directors of the Texas Windstorm Insurance Association (TWIA) will meet via Zoom on Tuesday, August 3 at 9:00 a.m. CT. The meeting will also be livestreamed via YouTube. The Board is expected to consider the Association’s statutorily required annual rate filing, among other issues. The meeting agenda and materials are available on TWIA’s website.

Members of the public are invited to provide comment. More details on the public comment options for the meeting can be found below.

TWIA is required by statute to make a rate filing with the Texas Department of Insurance by August 15 each year. The annual rate filing is subject, in certain circumstances, to review and approval by the Commissioner of Insurance. TWIA’s 2021 Rate Adequacy Analysis, prepared by the Association’s actuarial staff, indicates that TWIA’s current rates are inadequate by 39 percent for residential coverage and 46 percent for commercial coverage.

The Board’s Actuarial & Underwriting Committee met on July 21 to review the Rate Adequacy Analysis and voted to recommend an increase of 5 percent for commercial and residential TWIA policies. The Committee also voted to have TWIA staff conduct additional research into issues related to rates and report back to the Committee so that it can make further recommendations to the Board at a later date.

The TWIA Board will consider the analysis, the Committee’s recommendation, and stakeholder feedback when voting to decide the amount of the Association’s annual required rate filing.

Other Business

The Board is also expected to consider several proposed policy form updates and a proposed update to the Association’s Rate Manual. TWIA staff plans to recommend that the proposed filings be submitted for approval to the Texas Department of Insurance (TDI). While some of these changes may be considered rate filings by TDI, they will NOT result in an overall increase in TWIA rates.

Other items on the agenda include:

  • The Association’s required annual filing with the Texas Department of Insurance on maximum limits of liability on TWIA policies.
  • Board discussion on the amount of agent commission paid by TWIA.
  • Briefing and possible action on the process for selecting the Association’s reinsurance broker.
  • Selection of auditors/accountants for 2021 and authorization of non-audit services.
  • Review of 2021 hurricane season funding.
  • Investment of trust fund balances.


Public Participation and Comment

TWIA is providing three methods for stakeholders to provide public comment to the Board of Directors:

1) Written Public Comment

Members of the public are invited to submit written comments via email at PublicComment@TWIA.org. Interested parties are encouraged to submit comments by noon on Friday, July 30 to enable the Board to receive and review them prior to the August 3 meeting. All written comments will be provided to the Board regardless of when they are received.

2) Remote Verbal Comment via Zoom.

Individuals wishing to make verbal public comment remotely during the meeting must register and log into the meeting via Zoom on a computer, tablet, smartphone, or telephone.

  • Click here to register to attend the meeting via Zoom.
    • After registering for the meeting, you will receive a confirmation email with details on how to join the meeting from your preferred device.
    • This method of comment is audio only (no video).

3) In-Person Video Public Comment at Galveston Satellite Location

TWIA will facilitate in-person public comment from a satellite location in Galveston. Individuals wishing to provide public comment from this venue will be connected to the meeting via Zoom video. Members of the TWIA Board will be joining the meeting remotely and will not be present at the satellite location.

The satellite location is:

The Tremont House Hotel Davidson Building – Second Floor
(across the street from the main Tremont House Hotel building)
2319 Mechanic Street
Galveston, TX 77550

The Tremont requests that visitors who are not vaccinated against the COVID-19 virus wear a mask and practice social distancing while on hotel premises. TWIA will accommodate social distancing and make masks and hand sanitizer available to those attending the meeting at the satellite location.

Parking is available at the Tremont House Hotel valet for $7.00 per day. Hourly street parking may also be available in the area. The second floor of the Davidson Building is accessible via stairs or elevator.


Timeline of TWIA’s 2021 Annual Rate Filing Consideration Process

  • State law requires TWIA to make a rate filing with the Texas Department of Insurance by August 15 each year.
  • The annual rate filing is subject, in certain circumstances, to review and approval by the Commissioner of Insurance.
  • More information on TWIA rates and the rate filing process is available on TWIA’s website.

July 6, 2021: TWIA posts Rate Adequacy Analysis to its website for public review.

July 21, 2021: Actuarial & Underwriting Committee meets to review Rate Adequacy Analysis and vote on a recommendation to the TWIA Board of Directors regarding TWIA’s August 2021 annual rate filing.

August 3, 2021: TWIA Board of Directors meets to hear recommendation from the Actuarial & Underwriting Committee and public comment on the 2021 rate adequacy analysis and vote to direct staff regarding TWIA’s August 2021 annual rate filing.

August 15, 2021: Statutory deadline for TWIA staff to make annual rate filing with the Texas Department of Insurance.

October 15, 2021: Deadline for approval or disapproval of a TWIA rate filing by the Commissioner of Insurance, in some circumstances.