The Board of the Texas Windstorm Insurance Association (TWIA) has voted to adopt a multi-model view of risk for 2022, with its newly derived 1-in-100 year probable maximum loss driving a decision to secure a roughly $2.04 billion tower of reinsurance and catastrophe bonds for 2022.
TWIA’s Board met yesterday to discuss the Association’s approach to catastrophe risk modelling, the resultant probable maximum loss, and with these decisions set to inform its reinsurance and catastrophe bond purchases for the coming hurricane season.
TWIA is typically out in the market by April 1st, so at this meeting its Board needed to provide a decision that would support it securing sufficient claims paying capacity for the coming 2022 treaty year.
FULL ORIGINAL PUBLICATION HERE
