Dear Agent, 

TWIA has implemented a change to premium refunds on policies cancelled by the policyholder, in compliance with House Bill 3208 passed earlier this year. This change applies to policies effective 9/1/23 and after.  

Policies effective before 9/1/23: When a policy is cancelled by the policyholder, TWIA retains minimum earned premium of at least 90 days of the annual policy term or $100.  

​​​​​​Policies effective 9/1/23 and after: When a policy is cancelled by the policyholder, TWIA retains the entire annual premium, unless the policy was cancelled for one of the following reasons:  

• The purchase of similar coverage in the private market (“Coverage Elsewhere” in Portal dropdown) 
• The death of the policyholder (“Death of policyholder” in Portal dropdown) 
• The total loss of the property (“No financial/insurable interest” in Portal dropdown) 
• The sale of the insured property (“Sold” in Portal dropdown)     

• Requires the policyholder to provide proof of the cancellation reason in order to get a refund.  
• Does not apply to policies cancelled by TWIA. If a policy cancellation is initiated by TWIA, the premium refund will be pro-rata. 
• Does not change the way a policy cancellation is submitted. Policy cancellations should be requested in the TWIA Agent Portal.