TWIA says Harvey Losses will total $1.13 Billion
The Texas Windstorm Insurance Association (TWIA) says its losses from Hurricane Harvey should total $1.13 billion when all of its claims have been settled. So far, TWIA has received almost 70,000 windstorm claims and has closed approximately half of them.
TWIA expects to utilize its entire Catastrophe Reserve Trust Fund (CRTF) of $741 million as well a portion ($290 million) of its Class 1 “Pre-Event” bonds. Based on TWIA’s ultimate losses and loss adjustment expenses, the agency does not expect a need to assess Member companies.
For TWIA’s statement on its losses from Hurricane Harvey, click here: https://www.twia.org/news-and-announcements/twia-ultimate-losses-harvey/