Texas Insurance Commissioner Mike Geeslin recently signed an order increasing the maximum limits of liability from $3,390,000 to $4 million for a commercial or government building insured for wind and hail by the Texas Windstorm Insurance Association.
The order follows an earlier decision made by the commissioner in mid-February, raising the maximum limits of liability for contents in a TWIA-insured apartment, residential condominium or townhouse unit from $181,000 to $350,000.
The effective date for both changes is April 1, 2008.
TWIA is the insurer of last resort for windstorm insurance for property located along the Texas Gulf Coast.
Source: Texas Department of Insurance
Topics Catastrophe Trends Natural Disasters Texas Windstorm Property
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