At its September 22 meeting, TWIA’s Actuarial & Underwriting Committee reviewed an independent report by actuarial consulting firm Willis Towers Watson (WTW) on TWIA’s rate adequacy and use of hurricane modeling in estimating potential losses in its rate-setting process. The Committee voted to direct TWIA staff to work with WTW to gather additional data on the characteristics of properties insured by the Association and for WTW to provide an updated and more detailed report to the Committee, along with some additional analysis regarding modeling.
In its deliberations, the Committee considers both written and in-person comment from the public. In the interest of transparency and consistent with prior practice, we have posted the written public comments received for the September 22 meeting. Certain personally identifiable information, such as names and contact information, has been redacted to protect the privacy of those individuals, some of whom may be TWIA policyholders.
The Committee will meet again the week of November 30, 2020 to review the updated information and report back to the TWIA Board of Directors, which is scheduled to meet on December 8, 2020.
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