Windstorm Insurance Association in Texas may run out of cash if a big storm hits

Windstorm Insurance

Estimates show that funds could run very short if certain areas are struck with damage. According to official estimates, the Texas Windstorm Insurance Association may find itself facing considerable shortages of funds if a hurricane strike Brownsville, Corpus Christi, or Galveston. This association is the insurer of last resort for tornado, hail, hurricane and other wind damage. The Texas Windstorm Insurance Association current provides coverage for over 267,000 owners of residential and commercial properties. Approximately 90 percent of its policies are for residential coverage. Also known as the coverage pool,…

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Importance of hurricane insurance and preparedness underscored by NOAA predictions

Hurricane season 2012

Official storm season forecasts include eight Atlantic hurricanes. The National Oceanic and Atmospheric Administration (NOAA) has released its predictions for the 2012 storm season, drawing attention to the importance of preparedness and proper coverage through hurricane insurance. The NOAA’s report says that there will be from four to eight hurricanes this year. It explained that these severe weather events will fall in among the nine to fifteen named storms that have a 70 percent chance of occurring before the season is up. Furthermore, among the hurricanes, up to three will…

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