Twia
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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.
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The board of directors has voted for a 10% rate hike.
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Twia’s analysis showed existing rates were inadequate.
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The proposals include increasing either statutory or CRTF funds.
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The carrier’s mega bond is seeking coverage for Texas named storm.
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Twia’s actuarial and underwriting committee made the recommendation last week.
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The suggested update to the PML is $2bn higher than last year.
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