Essential Info
- FedNat Insurance (Maison) is ending its operations and cancelling its policies effective 10/27
- FedNat (Maison) sent this notice to its policyholders in Texas on 9/28
- FedNat (Maison) policyholders can get coverage with TWIA using the same exceptions that TDI created for former Weston policyholders – see below for details
- This information only affects your clients with FedNat or Maison policies
- Additional information can be found through the links below and on our TWIA website
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Dear agent,
FedNat Insurance (also known as Maison in Texas) was ordered into receivership by a Florida court. This means FedNat is cancelling all its policies, including Maison policies in Texas. The policies are cancelled effective October 27, 2022.
This only affects your clients with FedNat or Maison policies.
FedNat (Maison) policyholders can get coverage with TWIA using the same exceptions that TDI created for former Weston policyholders. TWIA application guidance and a summary of the exceptions are below.
TWIA Application Guidance for FedNat (Maison) Policyholders
Avoid phone calls and processing delays when creating a TWIA application!
- In the declination section, type in “FedNat” when prompted to provide the declining carrier.
- All TWIA payment plans are available to the policyholder. If they want the special payment plan, select “Weston or FedNat Receivership Payment Plan” in the payment plan section.
Summary of Exceptions Under TDI’s Emergency Rule
- More time to apply: Coastal property owners cancelled by FedNat (Maison) have until 12/26 to apply for a TWIA policy that gives them coverage starting 10/27. In the declination section, type in “FedNat” when prompted to provide the declining carrier.
- Coverage even if a storm is on its way: Even if a storm is in the Gulf of Mexico, affected policyholders can still buy a TWIA policy and be covered for wind and hail damage. The policy must be purchased by 12/26.
- No payment to start coverage: Enter “FedNat” as the declining carrier and select the “Weston or FedNat Receivership Payment Plan.” Policyholders will not need to make a payment for the first three months of coverage. After that, the premium will be due in equal monthly amounts. Policyholders also have the option to choose regular TWIA payment plans.
- FedNat (Maison) policyholders who use the special payment plan must apply by 12/26.
- If coverage begins before 10/27, the first payment will be due 90 days after coverage begins. Policyholders will get a bill before that with the amount due. Example: If coverage begins on October 1, payment will be due December 30.
- If coverage begins on 10/27, the first payment will be due 1/25/2023. Policyholders will get a bill before that with the amount due.
Additional Resources
TWIA webpage about getting coverage from TWIA
FAQ for all FedNat policyholders
Guidance for FedNat Insurance policyholders who live along the Texas coast
Emergency rule adoption order (PDF)
If you have any questions or concerns, please contact us at agentservices@twia.org or (800) 231-5360. Our normal business hours are Monday-Friday, 8:00 a.m.-5:00 p.m.
Sincerely,
Texas Windstorm Insurance Association
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