{"id":20520,"date":"2023-07-31T15:38:05","date_gmt":"2023-07-31T15:38:05","guid":{"rendered":"https:\/\/www.insurancejournal.com\/?p=732810"},"modified":"2023-07-31T15:38:05","modified_gmt":"2023-07-31T15:38:05","slug":"twia-board-to-meet-in-galveston-to-discuss-annual-rate-filing-for-2024-policies","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2023\/07\/31\/twia-board-to-meet-in-galveston-to-discuss-annual-rate-filing-for-2024-policies\/","title":{"rendered":"TWIA Board to Meet in Galveston to Discuss Annual Rate Filing for 2024 Policies"},"content":{"rendered":"<ul class=\"nav nav-tabs tabs tabs-entry\">\n<li class=\"active\"><a href=\"https:\/\/www.insurancejournal.com\/news\/southcentral\/2023\/07\/31\/732810.htm\">Article<\/a><\/li>\n<li><a href=\"https:\/\/www.insurancejournal.com\/news\/southcentral\/2023\/07\/31\/732810.htm?comments\" rel=\"nofollow\">0 Comments<\/a><\/li>\n<\/ul>\n<div class=\"article-content clearfix\">\n<p>The Texas Windstorm Insurance Association (TWIA) Board of Directors will meet in Galveston on Tuesday, August 8 at 9:00 a.m. CT, where the Board is expected to consider the Association\u2019s statutorily required annual rate filing for 2024 policies.<\/p>\n<p>The Board will consider a committee recommendation of a rate increase for 2024 of 5% for residential policies and 8% for commercial policies.<\/p>\n<div class=\"bzn bzn-sized bzn-intext\">\n<ins data-revive-zoneid=\"79\" data-revive-block=\"1\" data-revive-id=\"36eb7c2bd3daa932a43cc2a8ffbed3a9\"><\/ins> <\/div>\n<p>TWIA\u2019s <a href=\"https:\/\/www.twia.org\/about-us\/2023-rate-adequacy-analysis\/\" target=\"_blank\" rel=\"noopener\">2023 Rate Adequacy Analysis<\/a>, prepared by the Association\u2019s actuarial staff, indicates that TWIA\u2019s current rates are inadequate by 20 percent for residential coverage and 22 percent for commercial coverage. The Board\u2019s Actuarial &amp; Underwriting Committee met on July 11 and voted to <a href=\"https:\/\/www.twia.org\/news-and-announcements\/twia-actuarial-underwriting-committee-recommends-5-increase-in-2024-residential-rates-8-for-commercial\/\" target=\"_blank\" rel=\"noopener\">recommend an increase of 5% for 2024 residential policies and 8% for 2024 commercial policies<\/a>.<\/p>\n<p>The TWIA Board will consider the analysis, the Committee\u2019s recommendation, and stakeholder feedback when voting to decide the content of the Association\u2019s annual required rate filing. A rate filing that includes any increase in rates is subject to review and approval by the Commissioner of Insurance.<\/p>\n<p>TWIA is accepting public participation and comment through written public comment, remote verbal public comment via Zoom, or in-person public comment in Galveston.<\/p>\n<p>Individuals wishing to make in-person verbal public comment must attend the Board meeting at the <a href=\"https:\/\/www.google.com\/maps\/place\/The+Tremont+House\/@29.3062114,-94.7948092,15z\/data=!4m8!3m7!1s0x0:0x1581d87a2f698eed!5m2!4m1!1i2!8m2!3d29.3062059!4d-94.7948079\" target=\"_blank\" rel=\"noopener\">Tremont House in Galveston<\/a>. TWIA staff will facilitate the public comment process.<\/p>\n<p>The full address of the meeting location is:<\/p>\n<p>The Tremont House Hotel Davidson Building \u2013 Second Floor<br \/>(across the street from the main Tremont House Hotel building)<br \/>2319 Ships Mechanic Row<br \/>Galveston, TX 77550<\/p>\n<p><em>Source: TWIA<\/em><\/p>\n<\/p><\/div>\n<div class=\"article-poll\" data-post=\"732810\">\n<div class=\"article-poll-vote\">\n<p>Was this article valuable?<\/p>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-no\">\n<form class=\"feedback-form\">\n<p>Thank you! Please tell us what we can do to improve this article.<\/p>\n<p> <textarea placeholder=\"Enter your feedback...\"><\/textarea> <button type=\"submit\" class=\"submit\" disabled>Submit<\/button> <button class=\"cancel\">No Thanks<\/button> <\/form>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-yes\">\n<form class=\"feedback-form\">\n<p>Thank you! <span class=\"percent\"><\/span>% of people found this article valuable. Please tell us what you liked about it.<\/p>\n<p> <textarea placeholder=\"Enter your feedback...\"><\/textarea> <button type=\"submit\" class=\"submit\" disabled>Submit<\/button> <button class=\"cancel\">No Thanks<\/button> <\/form>\n<\/p><\/div>\n<div class=\"article-poll-more-articles\">\n<p class=\"thank-you-text\">Here are more articles you may enjoy.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"subscribe-banner subscribe-banner-in-content-2\">\n<div class=\"content\">\n<h4>The most important insurance news,in your inbox every business day.<\/h4>\n<p>Get the insurance industry&#8217;s trusted newsletter<\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Article 0 Comments The Texas Windstorm Insurance Association (TWIA) Board of Directors will meet in Galveston on Tuesday, August 8 at 9:00 a.m. CT, where the Board is expected to consider the Association\u2019s statutorily&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1,77],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20520"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=20520"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20520\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=20520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=20520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=20520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}