Twia
-
Twia filed for the rate hike in August after an actuarial analysis showed that rates were inadequate. -
The residual insurer’s pricing is far from rate adequacy, and it is undercutting the commercial market.
-
The board of directors has voted for a 10% rate hike.
-
Twia’s analysis showed existing rates were inadequate.
-
The proposals include increasing either statutory or CRTF funds.
-
The carrier’s mega bond is seeking coverage for Texas named storm.
-
Twia’s actuarial and underwriting committee made the recommendation last week.
-
The suggested update to the PML is $2bn higher than last year.
