Texas Legislature Approves Bill To Limit TWIA Losses

Law360, New York (June 28, 2011, 7:52 PM EDT) -- The Texas Legislature passed a law Tuesday to reshape the Texas Windstorm Insurance Association, approving limits on the amount that property owners can recover if they sue the nonprofit insurer.

The state Senate and Texas House of Representatives hammered out differences in their competing bills to approve the legislation that aims to reform the government-established insurer for homeowners in hurricane-prone coastal areas. TWIA was harshly criticized — and sued — for its actions in the wake of Hurricane Ike, which in 2008 devastated the Gulf of...
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