Policy Moratoriums: What You Need to Know

Attention agents: We are monitoring ongoing storm activity that may impact the TWIA coverage area. While this storm isn’t forecast to become a hurricane, it’s a good opportunity to re-share info about policy moratoriums.

A policy moratorium means TWIA temporarily stops issuing policies and increasing coverage. During a policy moratorium, TWIA cannot accept new applications, issue new policies, or increase coverage on existing policies. Only renewals without an increase in coverage can be issued during a policy moratorium. Click here to learn more about policy moratoriums.

A TWIA policy moratorium goes into effect when both of the following conditions are true: (1) The storm is designated as a hurricane by the National Weather Service, AND (2) the storm is within the boundaries of 80 degrees west longitude and 20 degrees north latitude.

A policy moratorium is lifted when the TWIA General Manager determines the storm no longer threatens property anywhere within the TWIA coverage area. A policy moratorium isn’t automatically lifted after a storm makes landfall. From the time a storm enters the Gulf of Mexico to the time it makes landfall and dissipates, it is possible for a policy moratorium to last a week, or longer.

When a policy moratorium is lifted, TWIA resumes regular policy issuing operations at 12:01 a.m. the next day. This means TWIA will begin accepting applications, issuing new policies, and processing renewals with effective dates of 12:01 a.m. the next day. For example, a policy moratorium lifted on Thursday at 2:00 p.m. would mean TWIA would resume regular policy issuing operations on Friday at 12:01 a.m.

To issue a policy before a policy moratorium goes into effect, TWIA must receive both the application and the payment. The fastest ways to submit payment to TWIA are through the Agent Portal with eCheck or EFT.

We will notify you through another agent bulletin if a policy moratorium becomes likely. In the meantime, if you have questions or concerns, please contact Policy Services at agentservices@twia.org or (800) 788-8247. Our regular business hours are Monday through Friday, 8:00 a.m. to 5:00 p.m.