funding News

Texas Windstorm Insurer’s Financial Outlook Improved as Hurricane Season Starts

Low catastrophe activity and claims experience so far this year have helped to put Texas’ insurer of last resort for properties along the Gulf Coast in a better position to face the 2014 hurricane season than it has been in years. …

New Texas Windstorm Rules Establish Method for Issuing Bonds

New rules posted by Texas insurance regulators on May 23 implement a process by which bonds may be issued on behalf of the state’s wind insurer of last resort for properties along the Texas coast. The Texas Department of Insurance …

Texas AG: State Not on the Hook for TWIA Unfunded Losses

Texas’ attorney general says the state is under no obligation to pay outstanding claims for the insurer of last resort for coastal properties should that organization not have sufficient funds to pay its bills. In a published opinion answering a …

Taiwan to Pay Life Insurer Transglobe $3 Billion in Record Bailout of Rival

Taiwan’s government will pay Transglobe Life Insurance T$88.4 billion ($3 billion) to take over ailing rival Kuo Hua Life after Transglobe beat out other competitors in the biggest taxpayer-funded bailout ever by the island state. Taiwan’s overcrowded life insurance industry …

Beebe, Arkansas Files Suit over Fire Insurance Tax Money

The city of Beebe, Ark., has filed suit against White County over how the county distributes some funding to area fire departments. The suit was filed by Beebe Mayor Mike Robertson and the Beebe City Council after the county decided …

EU Fails to Fill Cash Gap as Climate Talks Loom

EU finance ministers have failed to deliver firm promises of cash to help poor nations deal with climate change, threatening progress at international talks to tackle global warming later this month. Talks on Tuesday in Brussels agreed vague wording but …

Kansas Senate Panel Considers Disaster Funding

Kansas legislators have begun work on a bill that would create a special fund to cover the state’s share of disaster assistance. Maj. Gen. Lee Tafanelli, the Kansas adjutant general, testified before the Senate Federal and State Affairs Committee about …