| | About this Report | Greetings:
The July-August TWIA Bimonthly Report Card has been updated. The financial statements included in Section F of the report have been revised to reflect information included in our request for funding from the Catastrophe Reserve Trust Fund (CRTF) on September 15, 2017 and to clarify the available funds in the CRTF as of August 31, 2017 ($741.9 million).
The revised balance sheet and income statements include a placeholder for incurred losses and loss reserves for Hurricane Harvey. These are based on RMS catastrophe model estimates of TWIA losses based on a representative Saffir-Simpson Category 4 hurricane making landfall in an area similar to where Hurricane Harvey hit (approximately $467 million).
As of the date of this report, TWIA management has not completed an actuarial analysis of ultimate loss. TWIA expects to make additional requests for funding based upon actual claim payment experience and the completion of an estimate of ultimate losses from Hurricane Harvey. Future financial statements will reflect TWIA management’s estimates of ultimate losses from Hurricane Harvey. Please contact Jennifer Armstrong if you have any questions about the updated information.
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