Texas Windstorm Insurer Says It's Climbing Out Of $183M Hole

Law360, Houston (June 17, 2013, 11:17 PM EDT) -- Texas’ top insurance regulator and bureaucrats with the state’s coastal windstorm insurer said Monday that the troubled agency is on track to dig itself out of a $183 million shortfall following a recent lawsuit settlement over mishandled Hurricane Ike claims.

Leaders with the Texas Windstorm Insurance Association and newly appointed Texas Department of Insurance Commissioner Julia Rathgeber told the Texas House Insurance Committee that the $135 million settlement cut the agency’s deficit to about $114 million and that they are working to drum up cash....
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