Texas Wind Pool: $800M Available for Claims Should Storm Hit Coast

  Wednesday, August 22nd, 2012 Source: Insurance Journal

Going into the peak time of the year for hurricane development, Texas’ property insurance company of last resort in coastal areas has around $800 million in available cash to immediately handle claims in the event a storm hits the state’s coastline. With approximately $300 million on hand from a combination of its catastrophe trust fund and premium revenue, the Texas Windstorm Insurance Association recently negotiated a way to make an additional $500 million available to pay claims, its top manager said.

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