Weston Property & Casualty Insurance Company

TWIA DEPOPULATION INFORMATION FOR AGENTS

The Texas Windstorm Insurance Association (TWIA) has two programs in place to encourage TWIA policyholders to move their windstorm coverage to the private market or "depopulate" their policy from TWIA. TWIA's two depopulation programs are the Assumption Reinsurance Depopulation Program and the Voluntary Market Depopulation Program. Weston is participating in both of these programs. Please click on the buttons below to learn more about Weston and the depopulation programs.

WESTON'S ADVANTAGES

Weston is an admitted windstorm & hail property insurance specialist that produces business via a network of independent agents

Weston provides windstorm & hail coverage for personal, commercial residential and commercial non-residential risks

Weston is your depopulation expert. Depopulation may be new to Texas, but since December 2012, Weston has participated in 18 personal and commercial wind pool depopulations in Florida, resulting in the assumption of over 35,000 policies and over $100 million of in-force premium. Along the way, we've learned how to make the process as easy and seamless as possible for both policyholders and their agents

Weston does not write the "all other perils" (AOP) coverages and has no plans to do so. You and your carrier partners that write the AOP coverages can rest assured that Weston will not disrupt those relationships

Unlike TWIA, Weston has no maximum total insured value (TIV) limit so your clients will not be forced to look elsewhere for coverage as the values of their properties increase. Weston will also be accepting new business submissions with no TIV limit

With $1.74 billion in aggregate claims paying resources and financial strength ratings from Demotech, Weston is one of the most financially secure options available in the market

Weston is one of the largest purchasers of reinsurance in North America and purchases protection beyond the 1-in-250 year loss occurrence, well beyond regulatory and rating agency requirements

We encourage you to review the additional information about Weston below and on the About Us, Products and Questions tabs above

You may want to download a PDF copy of our agent brochure and share it with the agents in your office. We also recommend you download our "Why Choose Weston Insurance" flyer as a helpful guide for your discussions with your clients about Weston and the depopulations programs

Please do not hesitate to contact us at agencyservices@weston-ins.com with any questions you may have about Weston. Weston looks forward to working with you!

THE ASSUMPTION REINSURANCE PROGRAM

The initial goal of this depopulation program is for Weston to "step into the shoes" of TWIA on June 1 of each year and become the responsible insurer on a group of TWIA policies selected by Weston. The process of Weston becoming responsible for the selected group of TWIA policies is commonly referred to as an "assumption" of those policies. Then after the June 1 assumption date, Weston (instead of TWIA) directly generates the renewal for each assumed policy at its natural renewal date. The renewal on to Weston paper completes the move of the policyholder to Weston and is the ultimate goal of the process

Weston is required to have an agency appointment agreement in place with the agent of record for each policy selected for assumption before Weston can make the assumption offer to the policyholder. Please see the information below regarding Weston's agent appointment process under the AGENT COMMISSIONS & APPOINTMENT button

Each agent of record that elects to accept an appointment offer from Weston and participate in the Assumption Reinsurance Program must login to TWIA’s online portal to review the agency’s policies selected by Weston and then affirmatively authorize Weston to make the assumption offer to each policyholder within that TWIA portal. The deadline for this is October 31 each year. Agents can access TWIA’s online portal by navigating to https://www.twia.org/depopulationagents/ and then clicking on the “Login to Review Offers” button on that webpage. To view Weston's step-by-step guide to successfully navigating the TWIA depopulation portal click here

For those policies the agents of record authorize Weston to make an assumption offer, both Weston and TWIA mail a notice to the policyholders on our about December 1 advising them of Weston's assumption offer and the policyholder's right to opt-out of the assumption. Policyholders may exercise their right to opt-out of the assumption from December 1 through May 31. If a policyholder does not opt-out by May 31, then Weston assumes their policy from TWIA on June 1

To participate in the Assumption Program, Weston must offer policyholders coverage that is comparable to TWIA's coverage, charge premiums that are no more than 15% greater than TWIA's (Weston's rates match TWIA's), and agree to offer the policyholders Weston renewals for at least three years

For more detail on the mechanics and timing of the Assumption Reinsurance Program, please visit Weston's Texas Depopulation Explained webpage for policyholders here

THE VOLUNTARY MARKET PROGRAM

This depopulation program simply allows admitted carriers to make replacement coverage offers to TWIA policyholders at the regular renewal date of their TWIA policy

Weston is required to send the replacement coverage offers the agents of record for the selected policies. If Weston does not already have an agent appointment agreement in place with each agent of record, Weston is required to offer the agent an appointment when Weston sends the coverage offers. Please see the information below regarding Weston's agent appointment process under the AGENT COMMISSIONS & APPOINTMENT button

Upon receipt of the coverage offers, the agents of record consult with their clients to make a decision about whether to move their coverage to Weston or remain with TWIA at the natural renewal date of their TWIA policy

Unlike the Assumption Program, under the Voluntary Program Weston is not required to offer policyholders coverage that is comparable to TWIA's coverage, charge premiums that are no more than 15% greater than TWIA's (Weston's rates match TWIA's), and agree to offer the policyholders Weston renewals for at least three years. However, Weston has committed to honoring those requirements regardless of the depopulation program under which a TWIA policyholder moves their coverage to Weston

For more detail on the mechanics and timing of the Voluntary Market Program, please visit Weston's Texas Depopulation Explained webpage for policyholders here

WESTON'S FINANCIAL INFORMATION

AGENT COMMISSIONS & APPOINTMENT

WESTON'S RATES & POLICY FORMS