Texas Tropical Cyclone Risk
Having a major hurricane hit the Texas coast is not an “if” it’s a “when.” Higher windstorm insurance rates to better reflect the true potential risk and build cash reserves and hedge with reinsurance are needed. The moderate “pain” of higher rates over time is a good trade off for all concerned considering the high long-term risks. All Texans would be affected if Texas Windstorm resources are inadequate to handle a major coastal windstorm event.