Greetings:
The Texas Windstorm Insurance Association Board of Directors met in Austin on May 6 for its second quarterly meeting of 2025. The Board received an update on reinsurance funding for the 2025 storm season and routine operational highlights. Earlier this year, the Board directed staff to pursue the purchase of $1.727 billion in new reinsurance funding (adding to $2.5 billion in existing reinsurance) for this year’s storm season.
The Board also voted to secure a $500 million line of credit to allow for an immediately available source of funds to pay claims in the event of a catastrophic storm impacting the Texas coast this year. If needed to pay claims, the line of credit would be repaid from the proceeds of Class 1 public securities issued after the storm as provided by TWIA’s governing statute.
Board Appointments and Committee Changes
It was announced at the meeting that the Texas Insurance Commissioner has re-appointed Esther Grossman of Homeowners of America Insurance Company as an Insurance Industry Representative on the TWIA Board and made the following appointments to fill vacancies.
- Dr. Etti Baranoff of Austin, Distinguished Career Professor of Insurance and Finance Emeritus, Virginia Commonwealth University – Non-Seacoast Territory Appointment
- Terrilyn Tarlton-Shannon of Galveston – First Tier Coastal Territory (Agent) Member Appointment
- John Todd of Houston, President and CEO of Columbia Lloyds Insurance Company – Insurance Industry Representative Appointment
Peggy Gonzalez of Brownsville has concluded her service as a First Tier Coastal Representative on the Board.
Board members Greg Smith and Terrilyn Tarlton Shannon were appointed to the Board’s Actuarial & Underwriting Committee. They join Debbie King, David Futterlieb, Esther Grossman, and the Office of Public Insurance Counsel on the Committee. The Board also voted to invite former Board member Ron Walenta to join the Committee.
The meeting materials and archived recording for the Board meeting are available on our Meeting Library page.
Should you have any questions, please contact me at DDurden@twia.org or (512) 505-2255.
Sincerely,
David Durden
General Manager
Texas Windstorm Insurance Association
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