Texas’ wind and hail insurer of last resort for properties in the state’s coastal counties has determined it needs $4.03 billion in funding to prepare for this year’s hurricane season.
The board of directors of the Texas Windstorm Insurance Association voted on March 23 to establish the probable maximum loss of $4.03 billion for a hurricane season with a probability of one in 100 (1:100 Probable Maximum Loss) in advance of the 2021 season.
