Recent TWIA Meeting Reveals That Texas Insureds Have Had A Tough Year

The Texas Windstorm Insurance Association Board met on November 13 to review its budget. The TWIA provides wind and hail coverage for properties located along Texas’ gulf coast. The TWIA board reported that severe convective storms had given rise to $172 million in claims between January 1 and September 30, 2024. Nationally, the United States experienced 19 convective storms in 2024 that each caused over $1 billion in losses. 

The board estimated that Hurricane Beryl losses would likely reach $455 million. This places Beryl as the third-most expensive Hurricane since 2005 for TWIA, but significantly less expensive than Ike ($2.6 billion) or Harvey ($1.7 billion). As of October 25, the TWIA had received 31,383 TWIA claims and 9,833 FAIR Plan claims and had paid $268.3 million on TWIA claims and $74.9 million on FAIR Plan claims. Over 30,000 TWIA claims and nearly 10,000 FAIR plan claims have been filed as a result of Beryl. Risk forecaster Aon estimates that total Beryl losses were $3.6 billion. 

Please reach out to us if your insurer is not paying your Hurricane Beryl claim fairly.