The Texas Windstorm insurance Association (TWIA) has announced that its board of directors at its May 8, 2018 meeting approved a $175 million member assessment linked to losses arising from Hurricane Harvey. The assessed amount was reportedly lower than initial TWIA staff estimates.
Additional Harvey related assessments may be issued at future TWIA board meetings. The next scheduled board meeting is July 31, 2018 in Galveston.
TWIA assessments are subject to the approval of the Texas Commissioner of Insurance. Current reported estimates are that the assessment will be delivered to subject insurance companies in June, with payment due 30 days from receipt of the invoice.