Members of the Board of the Texas Windstorm Insurance Association (TWIA) expressed concerns over the potential cost of catastrophe bond coverage in 2023, having an expiring $400 million cat bond it wants to renew as part of a target to buy up to $2.92 billion of reinsurance for the coming storm season.
TWIA’s Board met yesterday to discuss the proposal its Actuarial & Underwriting Committee had made last week.
As we reported at the time, the TWIA Actuarial & Underwriting Committee developed a recommendation to take to the Board, that would drive its minimum statutory funding (and risk transfer needs) for the year ahead.
FULL ORIGINAL PUBLICATION HERE
