The Texas Windstorm Insurance Association (TWIA) has revealed that it will seek a $2.04 billion reinsurance program for the 2022 hurricane season at upcoming renewals.
During a meeting yesterday, TWIA’s board voted to adopt a multi-model view of risk for the coming year, which includes a larger program of reinsurance coverage than the $1.93 billion it secured last year.
The Association is maintaining its risk transfer and reinsurance budget at $102.6 million for now, but the board acknowledged that this spend may also have to be increased in line with rising reinsurance rates.
