TWIA Issues 2021 Annual Report and Catastrophe (CAT) Incident Response PlanPublished on: June 1, 2021
Texas Insurance Code Section 2210.107(c) requires TWIA to produce an Annual Report to the Texas Legislature detailing the extent to which the Association and the Board of Directors have met the requirements of the Code.
TWIA’s 2021 Annual Report, covering the period from June 1, 2020 to May 31, 2021, shows that TWIA and its Board of Directors have met the objectives outlined in statute to:
- operate in accordance with Chapter 2210 of the Texas insurance Code, the Plan of Operation, and Commissioner of Insurance rules;
- comply with sound insurance principles;
- meet all standards imposed under this chapter;
- establish a code of conduct and performance standards for Association employees and persons with which the Association contracts; and
- establish, and adhere to the terms of, an annual evaluation of Association management necessary to achieve the statutory purpose, Board objectives, and any performance or enterprise risk management objectives established by the Board.
The Annual Report is organized into two sections: The State of the Association, a narrative describing TWIA’s activities and accomplishments during the reporting period, and a Statutory Compliance section detailing required areas of compliance and operational changes during the reporting period. The Association and the Board are in full material compliance with all current standards of performance outlined in this report. This is the tenth Annual Report to be issued by TWIA since the enactment of House Bill 3 (82nd Legislature).
The 2021 Catastrophe (CAT) Incident Response Plan, required by Section 2210.455, is also included at the end of the Report.