The Texas Windstorm Insurance Association (TWIA) was told that in addition to legislation that changed actuarial assumptions and could cut its private market reinsurance costs, a new mix of its catastrophe model inputs may have a similar outcome.
The 2024–2026 catastrophe model updates across vendors are "flat to down" for most loss scenarios, reflecting reduced Texas hurricane activity and refined vulnerability data, TWIA was told during a presentation by consultant Aon last week. Only Verisk's version 13 produced an increase, driven by its revised severe convective storm model, board members were told.
