Texas Wind, Hail Insurer Needs Improvement, Report Says

Law360, New York (August 3, 2012, 6:16 PM EDT) -- Texas’ top auditor said Friday that the state’s wind and hail insurance provider for coastal counties has resolved many inefficiencies in its claim resolution process, but needs to continue improving accounting issues and data security.

While the Texas Windstorm Insurance Association has generally improved its processing of claims and implemented controls to ensure accurate financial reporting, additional reporting and security issues should be addressed, according to a report released by the Texas State Auditor.

“[T]he association’s accounting practices for reporting selected financial transactions comply with the...
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