Texas Insurers Settle Hurricane Ike Suits For $189M

Law360, New York (July 19, 2010, 5:46 PM EDT) -- The Texas Windstorm Insurance Association, a pool of all property/casualty insurance companies authorized to write coverage in the state, has agreed to pay out $189 million to 2,400 Galveston County property owners whose homes were completely destroyed by Hurricane Ike.

TWIA announced Wednesday it had reached a settlement to resolve lawsuits pending before Judge Susan J. Criss in the 212th District Court of Galveston County brought by windstorm policyholders.

The proposed settlement will resolve all “slab” cases in which little or nothing was left of a...
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