TWIA meeting happening now; you can watch it in action

9:03 am Central time August 7, 2012. Just go to TWIA.org and click on the right side where it says “click here to watch the broadcast.” Here’s the agenda for the meeting.

Interesting points from the meeting thus far. TWIA apparently does not a complete “contingency plan” in place yet to deal with how to make partial payments to policyholders when it does not have enough cash on hand. That’s a little scary. TWIA is not sure how it is going to collect on its reinsurance given that reinsurance operates on an “indemnity basis,” meaning that TWIA has to pay out first and then get reimbursed from the reinsurer. An interesting and difficult issue. Where is TWIA getting the money from in order to get reimbursed? Could TWIA negotiate a waiver of the “indemnity aspect” of the reinsurance contract? Did it try?

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