The Texas Windstorm Insurance Association announced that effective Nov. 1, 2008, the surcharge for the waiver of WPI-8s (certificates of compliance) on residential policies will change from 10 percent to 15 percent.
TWIA’s Web based E-Quote system began calculating the revised surcharge beginning Sept.15. In the meantime, the association said, agents that quote policies effective on or after Nov. 1 should include a 15 percent surcharge rather than 10 percent.
All policies issued under the 10 percent surcharge program will be changed to 15 percent at renewal beginning Nov. 1 unless the policyholder has secured the needed missing certificate(s) of compliance.
Criteria for participation in the waiver program was outlined in an agent’s bulletin dated June 5, 2006, available online under “NEWS.”
Source: Texas Windstorm Insurance Association
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