Greetings:
The Texas Windstorm Insurance Association (TWIA) is monitoring ongoing storm activity that is expected to impact the Texas coast. As of this morning’s update from the National Hurricane Center, the storm’s path toward the south Texas coast could expose properties insured by TWIA and the Texas FAIR Plan Association (TFPA) to winds of 39 miles per hour or greater. We believe it is unlikely a TWIA policy moratorium will go into effect due to potential tropical storm 9; however, we wanted to share a reminder about our processes.
What happens when a policy moratorium is in effect?
- TWIA cannot issue new policies or increase coverage on existing policies or renewals.
- Insurance agents cannot submit new business applications, policy changes, or changes to renewals.
- Renewals can be issued by making a payment if:
- There are no increases in coverage.
- The due date has not passed.
When could a policy moratorium go into effect?
When there’s a hurricane in the Gulf of Mexico. For more information, visit www.twia.org/moratoriums.
What happens when a policy moratorium is lifted?
- TWIA will begin accepting policy applications and payments at 12:01 a.m. the next day.
- Policy moratoriums are lifted when the TWIA General Manager determines the storm no longer threatens property anywhere within the TWIA coverage area.
Your constituents or their insurance agents with questions or concerns may contact Policy Services at agentservices@twia.org or (800) 788-8247. Our normal business hours are Monday-Friday, 8:00 a.m.-5:00 p.m.
As a reminder, this message and all TWIA Legislative Updates will be archived at https://www.TWIA.org/legislative.
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 |
