TWIA Will Meet Next Week to Discuss Slab-Only Claims Adjustments

During a public meeting to be held next week, the Texas Windstorm Insurance Association expert panel plans to inform the public about the progress of the panel’s work. The TWIA will allow the public to observe the panel members discussing their work amongst themselves and will allow public comment.

Following introductions, the panel will begin with an overview of work completed to date. The panel will then discuss the proposed hazard module that they are recommending as part of the overall methodology for adjusting residential slab-only claims. Two major components of the module are the wind hazard and the wave and surge flooding hazard. The ultimate objective of the hazard module is to produce a time history of wind speed and flood heights for different directions on a given property during the course of a storm event.

The meeting scheduled for Thursday, March 13, 2014 at 2:00 PM, will be held at the Texas Department of Insurance, Hobby Building, Room 100 located at 333 Guadalupe in Austin, Texas.

Source: Texas Department of Insurance