TWIA Board to Meet April 18 to Discuss Action on 2023 Reinsurance
The Texas Windstorm Insurance Associated Board of Directors will meet Tuesday, April 18 to discuss taking possible action on the TWIA’s reinsurance purchase for the 2023 storm season.
TWIA’s reinsurance broker, Gallagher Re, will present information to the Board on the reinsurance market, including pricing and purchase options for the potential purchase of reinsurance in excess of the 1:100 Probable Maximum Loss (PML) for the 2023 storm season.
In January TWIA’s Board voted to establish $4.5 billion as the 1:100 PML for this year’s storm season. If the Board chooses to acquire reinsurance above the PML, the cost would be paid by member insurance companies through an assessment.
The public is invited to attend and make public comment in person at TWIA’s office in Austin or virtually via Zoom. The meeting will be live-streamed on YouTube.
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