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

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.