At least one policy at your agency has been selected as part of

TWIA's Assumption Reinsurance Depopulation Program

One or more policies your agency represents have been selected by insurance companies participating in the TWIA Assumption Reinsurance Depopulation Program, which may result in a transfer of these policies from TWIA to the participating insurer. This program was authorized by the 2015 Texas Legislature (SB 900) to encourage private market insurers to write windstorm coverage along the Texas coast. Under this program, participating insurers will be required to do the following: 1) allow you to remain as the agent on these policies and 2) continue to offer the policyholder rates and coverages comparable to TWIA’s for three renewals. Participating insurers are being reviewed by the Texas Department of Insurance (TDI) and TWIA; however, company participation in the program is not an endorsement by either TDI or TWIA.

From now through October 31, 2016, your agency can approve offers through the TWIA depopulation website. Any offers your agency approves will be sent to your policyholders on December 1, 2016, as described below. Any offers your agency does not approve on the TWIA depopulation website, or on which you have taken no action at all by October 31, 2016, will not be sent to your policyholders.

Process for Approving Offers:

1.       Your agency must enter into a limited servicing agreement with, or be appointed by, the participating companies prior to approving any associated offers.

2.       Go to the TWIA depopulation website: http://depop.twia.org/

3.       Your agency will be registered with your agency’s primary contact email address as the username, and an email will be sent to that address about how to log in. Contact agentservices@twia.org or call 1-800-788-8247, Option 7 if you do not know the primary contact.

4.       Review the offers presented on the TWIA depopulation website, and select any you want to approve. Further instructions on using the system will be communicated via e-mail on September 6.

Your policyholders will be informed by TWIA on December 1, 2016 about offers you approve and will also be notified by participating carriers; policyholders will have until May 31, 2017 to opt out and remain with TWIA. To assist you in answering policyholder questions, resources are available at http://www.twia.org/depopulation/. For additional help, please call TWIA at 1-800-788-8247, Option 7.

Sincerely,

 

Texas Windstorm Insurance Association