TWIA Posts Upcoming Legislative Changes
The Texas Windstorm Insurance Association (TWIA) has published a list of changes that will take effect through January 2021 that will change how TWIA provides wind and hail insurance on the Texas coast. These changes are necessary due to laws that were enacted during the 2019 legislative session.
Some changes have already taken effect, such as a law that allows eligible surplus lines insurers to write windstorm and hail insurance in TWIA’s coverage area and a rule allowing the Commissioner of Insurance to extend claim deadlines for TWIA policyholders. Upcoming changes include rules that affect policyholders, as well as calls for reports and studies regarding the organization.
Beginning January 1, 2020, policies will be automatically renewed, though the policyholder has the opportunity to cancel before renewal. In January 2021, policyholders will have the option to pay their premium in installments and TWIA will begin accepting premium by credit card payments.
TWIA has made a full list of the forthcoming changes available on its website.