The Texas Windstorm Insurance Association (Twia), the state’s insurer of last resort, has voted to establish $6.5bn as its one-in-100-year probable maximum loss (PML) for the 2024 storm season.
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Twia board sets $6.5bn PML, seeks $3.35bn in reinsurance
Twia’s actuarial and underwriting committee made the recommendation last week.