Greetings:
The Actuarial & Underwriting Committee for the Texas Windstorm Insurance Association met on January 19 to review presentations from selected respondents to the Association’s Request for Proposals (RFP) for catastrophe modeling services. The Committee voted to recommend to TWIA’s Board of Directors that the Association contract with Aon for catastrophe modeling services.
TWIA issued an RFP on December 16, 2021, for a consultant or firm to perform catastrophe modeling analysis related to the Board’s statutorily required determination of the Association’s 1-in-100-year probable maximum loss for the 2022 hurricane season and reinsurance purchase decision.
The meeting materials and archived recording of the Committee meeting are available on our Archived Meetings page.
REMINDER: TWIA Seeks Recommendations for Actuarial & Underwriting Committee Membership
The Texas Windstorm Insurance Association (TWIA) Board of Directors is seeking interested persons to serve on the Association’s Actuarial & Underwriting Committee. Applicants should have:
- demonstrated experience with TWIA-related issues;
- actuarial, underwriting, or other technical expertise; and/or
- diverse perspectives, with backgrounds in insurance, public service, or other relevant areas.
The Committee provides expertise and advice to the TWIA Board of Directors on technical matters pertaining to underwriting, rate adequacy, use of catastrophe modeling, and related areas as assigned by the Board. Specific tasks customarily assigned to the Committee have included:
- review of the Association’s annual Rate Adequacy Analysis and related recommendations to the Board;
- evaluation of underwriting data and its applicability to actuarial issues; and
- assessment of potential vendors for contracts related to the Committee’s areas of expertise.
Committee members are expected to review and make recommendations based on information provided by TWIA staff, TWIA vendors, and other sources. The Committee meets at least once a year but may meet more frequently depending on work assigned to it by the Board of Directors.
Interested parties may recommend themselves or others for a position on the Committee by filling out this form. TWIA is accepting recommendations through January 28, 2022.
Should you have any questions, please contact me at JArmstrong@twia.org or (512) 637-4031.
Sincerely,
|