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HURRICANE PREPAREDNESS – PUT YOUR PLAN IN PLACE

HURRICANE PREPAREDNESS – PUT YOUR PLAN IN PLACE

| June 1, 2015 | 0 Comments

 By Todd Hunter             The hurricane season is now beginning in South Texas, and it is important to get your plan in place. Being prepared for hurricane season can help keep your family stay safe. The season officially began on June 1and will end on November 30th. It is during this time that most of […]

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TWIA Pays $178 Million In Extra Commissions

TWIA Pays $178 Million In Extra Commissions

| May 12, 2015 | 0 Comments

The Texas Windstorm Insurance Association pays a commission rate that has over the past six years put an estimated $178 million in the hands of independent insurance agents at the expense of consumers. The 16 percent commission paid by the state’s insurer of last resort for 14 Texas coastal counties is higher than other comparable […]

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Texas Windstorm Insurer: Private Carrier Interested in 60K Policies

Texas Windstorm Insurer: Private Carrier Interested in 60K Policies

| March 25, 2015 | 0 Comments

The Texas Windstorm Insurance Association (TWIA) announced that a carrier participating in its depopulation program has signaled an interest in around 60,000 policies that currently are on TWIA’s books. TWIA is the property insurer of last resort for wind and hail along the Texas coast. Last fall it launched its Voluntary Coastal Windstorm Insurance Portal (VCWIP or the […]

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Windstorm blows in $374 million in damage

Windstorm blows in $374 million in damage

| March 12, 2015 | 0 Comments

Windstorm (Egon-Felix) caused an estimated $373.6 million in insured property damage to parts of Western Europe and Scandinavia, Zurich-based catastrophe loss data company Perils A.G. reported Thursday. The windstorm struck Jan. 8-11. Perils said that the majority of the damage was sustained in Denmark, Germany, Norway, Sweden and the United Kingdom. The windstorm was also […]

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Taylor files bill overhauling Texas coastal windstorm insurer

Taylor files bill overhauling Texas coastal windstorm insurer

| March 12, 2015 | 0 Comments

(Press Release) AUSTIN … Senator Larry Taylor (R-Friendswood) on Monday filed S.B. 900, the third and final bill to ensure coastal property owners have access to affordable and available windstorm insurance coverage. Representative Greg Bonnen (R-Friendswood) filed the companion legislation in the Texas House, H.B. 2245. “The availability of affordable and accessible windstorm coverage for […]

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Rep. Abel Herrero Files House Bill 2408 to Restructure TWIA Board

Rep. Abel Herrero Files House Bill 2408 to Restructure TWIA Board

| March 6, 2015 | 0 Comments

Representative Abel Herrero, D-Robstown, filed House Bill 2408, which would restructure the Board of Directors of the Texas Windstorm Insurance Agency (TWIA) to include additional consumer representation. The proposed board would consist of twelve members, five of whom would be nominated by the independent Office of Public Insurance Counsel (OPIC) and then appointed by the […]

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Palomar Specialty Partners with Wellington to Offer Wind-Exposed Residential Property Insurance in Texas

Palomar Specialty Partners with Wellington to Offer Wind-Exposed Residential Property Insurance in Texas

| February 16, 2015 | 0 Comments

LA JOLLA, Calif./PRNewswire/ – Palomar Specialty Insurance Company has partnered with Wellington Risk Insurance Agency, Inc. (“Wellington”) to offer wind-exposed residential property insurance in Tier II counties in Texas.  This represents Palomar Specialty’s first expansion product category outside of earthquake coverage.  Palomar Specialty is currently offering Select Homeowners, Standard Homeowners and Standard Dwelling Fire coverage through […]

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Fearing coastal ‘economic chaos,’ Texas lawmaker files first of three windstorm insurance bills

Fearing coastal ‘economic chaos,’ Texas lawmaker files first of three windstorm insurance bills

| February 16, 2015 | 0 Comments

Sen. Larry Taylor, R-Friendswood, has filed the first of his three bills to address issues with the Texas Windstorm Insurance Association. Taylor’s Senate Bill 498 extends TWIA’s waiver program, which would otherwise expire at the end of the year. Avoiding that lapse in windstorm coverage is important because many homeowners lose policies through no fault […]

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2015 Alamo cat bond still on agenda for TWIA’s reinsurance renewal

2015 Alamo cat bond still on agenda for TWIA’s reinsurance renewal

| February 4, 2015 | 0 Comments

The Actuarial and Underwriting Committee of the Texas Windstorm Insurance Association (TWIA) has just completed its latest meeting, at which the committee resolved to pursue a 2015 reinsurance renewal that can include a new Alamo Re catastrophe bond. TWIA is the insurer of last resort for Gulf Coast property owners in the state and, like […]

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Texas Windstorm Insurance Association Expert Panel Public Meeting

Texas Windstorm Insurance Association Expert Panel Public Meeting

| January 21, 2015 | 0 Comments

The TWIA expert panel will hold a public meeting to inform the public about the progress of the panel’s work thus far, to allow the public to observe the panel discussing its work, and to give the public an opportunity to comment and ask questions on the various components of the method or model. During […]

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Texas Windstorm Insurance Association Releases Biennial Report to Legislature Highlighting Association’s Achievements Since 2011

Texas Windstorm Insurance Association Releases Biennial Report to Legislature Highlighting Association’s Achievements Since 2011

| January 20, 2015 | 0 Comments

Austin, TX (PRWEB) The Texas Windstorm Insurance Association (TWIA) submitted its biennial report last week to the 84th Texas Legislature. The report includes recommendations for legislative changes and highlights the Association’s major achievements since 2011 when the Association came under fire for operational issues stemming from Hurricanes Dolly and Ike in 2008. Since 2011, the […]

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Bills Aim to Reform Windstorm Association

Bills Aim to Reform Windstorm Association

| January 15, 2015 | 0 Comments

AUSTIN — The newly begun session of the Texas Legislature has its first bills filed to reform the Texas Windstorm Insurance Association. State Sen. Juan “Chuy” Hinojosa put forward Senate Bill 302, saying he has worked many months with community and business leaders from the 14 coastal counties, along with his colleagues in the Legislature. […]

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