Agents with Policies Selected for Depopulation:
The agent selection period of the 2021-2022 Assumption Program ended on May 31. By law, no program milestones occurred during hurricane season. The program has now entered the Policyholder Period during which policyholders may to choose to remain with TWIA, otherwise their policy will be transferred in March. See last week’s email for more information on this phase of the program.
If a policyholder wants to transfer, take no action.
If a policyholder wants their policy to transfer to the new carrier, SafePoint, they do not need to take any action. Their policy will automatically transfer on March 1, 2022. Your policyholder (and you) will receive a notice in February advising them about this change.
If a policyholder wants to remain with TWIA, take action.
Policyholders will have from December 3, 2021 through January 31, 2022 to elect to remain with TWIA. You can change the status of your policyholders in TWIA Policy Center. Please refer to this job aid to assist your policyholders who want to remain with TWIA. You can also tell policyholders to fill out the form sent to them by TWIA with the December 1st letter. If a policyholder changes their mind either way, you can update the TWIA Depopulation Website through January 31, 2022. If you and your policyholder take no action, their policy will automatically transfer to SafePoint on March 1, 2022.
The email you received last week also contains resources to help policyholders, including how to explain the program and answer their questions. If you have any questions, Agent Services is available to help at agentservices@twia.org or (800) 208-5948.
Thank you,
Texas Windstorm Insurance Association |
