Re-insurance reserve Levels in Texas to Rise
Texas Windstorm Insurance Association, a state-backed last resort insurer has requested an increase of their reinsurance stores for the upcoming 2008 storm season due to rising claims and costs in the said area. The plea is presented to the state senate and is awaiting scheduling for hearing and serves to prevent problems that resulted form the 2007 hurricane season from recurring. The Texas area was hit hard by severe storms and is expected to get another round of severe storms this year. Global warming, pollution and all the other contributory factors cited, the problem is getting worse and better to be prepared with enough stores than to go through what Katrina survivors had to go through.