Dear Agents with Assumption Depopulation Offers Selected for Transfer, 

The agent selection period of the 2019-2020 Assumption Reinsurance Depopulation Program (Assumption Program) ended on October 31. Policyholders whose policies you selected to move forward in the program by approving their offers to transfer to a participating company will have from December 1, 2019 until May 31, 2020 to elect to remain with TWIA. Otherwise, the policies will automatically transfer to the new company effective June 1, 2020. As you guide policyholders, we want to remind you about a few important dates regarding policy renewals.

Policyholder Participation Does Not Substitute for Policy Renewal: 

Agents still have to renew the policyholder’s policy if they want to continue coverage. Regardless of whether they want to participate in our Assumption Program, policyholders need to renew their policy with TWIA if the renewal date is July 31, 2020 or earlier. 

Policy Renewals Issued on TWIA Paper until July 31, 2020: 

Remember that if you are participating, policy renewals through July 31, 2020 will remain on TWIA’s paper for the following year; policy changes and questions will be handled by TWIA. However, the policy is technically transferred to the new company as of June 1, so claims will be filed with the new company as of June 1 of the program year. This means you’ll have a period of time when you will be speaking with both TWIA and the new company on different parts of your policy. 

Policies Expiring on or after August 1, 2020 Renew with New Company: 

At the next renewal (2021), the policy will switch to the assuming carrier’s policy form, coverages, and premium. As stated above, before August 1, policy renewals and policy changes go through TWIA. 

Claims on or after June 1, 2020 go to New Company: 

For claims with a date of loss on or after 12:01 AM on June 1, 2020, identify the policyholder's new insurance company, and follow their instructions about how to file a claim. Company information is provided at the following depopulation claims webpage. (Claims with a date of loss before June 1, 2020 will be filed with TWIA.) 

Future Program Changes: 

Please note that the Texas Legislature passed a law this year to change the depopulation programs and improve agent and policyholder experience by eliminating any decisions during storm season. However, the changes will not take place until after this coming program year – Round 4 (2019-2020). 

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