TWIA Actuarial & Underwriting Committee Recommends 5% Increase in 2024 Residential Rates, 8% for Commercial

TWIA’s Actuarial & Underwriting Committee met on July 11 and voted to recommend that the TWIA Board of Directors approve a rate filing to increase rates by 5% for 2024 residential policies and by 8% for 2024 commercial policies when it meets on August 8.

The recommendation, on a 3 to 1 vote, came after the Committee reviewed the 2023 Rate Adequacy Analysis prepared by the Association’s actuarial staff. The analysis indicates that TWIA rates are inadequate by 20 percent for residential coverage and 22 percent for commercial coverage. The Committee also heard public comment from stakeholders, including elected officials and other coastal community members.

The TWIA Board will consider the Committee’s recommendation, the rate adequacy analysis, and stakeholder feedback when voting to decide the content of the Association’s annual required rate filing with the Texas Department of Insurance (TDI). 

TWIA General Manager David Durden announced that Stephen Alexander recently resigned from the Committee and thanked Mr. Alexander for his service to the Committee.

Timeline of TWIA’s 2023 Annual Rate Filing Consideration Process

  • Two-thirds of the Board of Directors must vote to approve a rate increase.
  • TWIA must make a rate filing with the Texas Department of Insurance by August 15 each year.
  • Any rate increase is subject to approval by the Insurance Commissioner.

June 26, 2023: TWIA posted an annual Rate Adequacy Analysis to its website for public review. The Rate Adequacy Analysis is an estimate prepared by TWIA’s actuarial staff of whether rates are sufficient to cover the Association’s operating expenses and its expected losses from claims.

July 11, 2023: The Actuarial & Underwriting Committee met to review the Rate Adequacy Analysis, hear public comment, and develop a recommendation to the TWIA Board of Directors regarding TWIA’s August 2023 annual rate filing.

August 8, 2023: TWIA’s Board of Directors meets to hear the recommendation from the Actuarial & Underwriting Committee and public comment and vote to direct staff regarding TWIA’s August 2023 annual rate filing.

August 15, 2023: Statutory deadline for TWIA staff to make the annual rate filing with the Texas Department of Insurance.

October 15, 2023: Statutory deadline for approval or disapproval of a TWIA rate filing by the Commissioner of Insurance.

Members of the media with questions about the Committee meeting, please email

The meeting materials and archived recording for the Committee meeting are available on our Archived Meetings page.