Texas Gov. Signs Refill For Hurricane Insurance Pool

Law360, New York (June 22, 2009, 12:00 AM EDT) -- Texas Gov. Rick Perry has signed into law a bill to recapitalize the Texas Windstorm Insurance Association — a pool of all property/casualty insurance companies authorized to write coverage in the state — whose funds were depleted in 2008 as a result of hurricanes Dolly and Ike.

Signed by Perry on Friday, House Bill 4409 enacts necessary reforms to the TWIA that will reduce the burden of catastrophic storms on the state and eventually establish the pool as an insurer of last resort.

Perry's signature marks...
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