The depopulation of the Texas Windstorm Association services is designed to provide coastal policy holders with an alternative private options for wind and hail insurance as approved by the Texas Legislature in 2015 as Senate Bill 900. Most of the homeowner’s insurance carriers do not include wind and hail damage in the 14 coastal counties of Texas.
Twico, the insurance carrier for TWFG has been selected to accept transfer of up to 62 Million US dollars in windstorm policies fromthese 14 coastal counties of Texas. According to Gordy Bunch, President and CEO of TWFG, recent storms and hurricanes have intensified the need to broaden insurance availability to the 14 counties. This new program is available to the current TWIA policyholders who may voluntarily opt to transfer responsibility for their wind and hail coverage to private insurers outside of the quasi governmental Texas Windstorm Insurance Association.
TWFG is Texas’s numerouno in personal lines (homeowners and auto) with more than a quarter million policy holders and we are only too proud to be associated with them in making their operations smooth. The VA team is happy to report this wonderful milestone achieved by our customers within the family. All the teams working on the files of TWFG can take this as a heads up call.