The Texas Windstorm Insurance Association (TWIA) Board of Directors voted Dec. 10 to assess member insurance companies $90 million based on losses from Hurricane Harvey and voted to defer further consideration of action regarding TWIA insurance rates on residential and commercial policies until its next statutorily required rate filing in August 2020. The member company assessment requires the approval of the Insurance Commissioner.

Recent legislation changed the part of the Texas Insurance Code that governs TWIA. Check out our new Changes at TWIA webpage for more information and the status of these, and other, legislative changes.

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​Yesterday, the U.S. Senate passed government funding legislation that includes an extension of the National Flood Insurance Program (NFIP) through Dec. 20. The program is currently scheduled to expire at midnight tonight. The same legislation previously passed the U.S. House of Representatives and will now head to the President’s desk where the White House has signaled that he will sign it into law to avoid a federal government shutdown.