The only mention of reinsurance in this article is that it exists. Do we have any idea how much that will pay, and when it will kick in? They seem to be pulling a number out of the sky with the $430 Mil assessment. You might think that was the remainder before the reinsurance would start, but since they say more assessments might be necessary, that must not be the answer.
It is my understanding TWIA had a $100 million balance and $500 million reserve which had been reached. They also have $1.5 Billion in reinsurance. I have heard numbers of about $2 Billion above these funds. It will all depend on how successful the denial of coastal claims on the basis of surge goes. If some smaller companies cannot pay their assessment, they go back into the pot so some companies could reach over 100% of the actual assessments.
Hey, I been tellin you guys that we need someone that doesn’t do their actuarial calculations on a Big Chief pad, to head the pool. Lawdy, lawdy….what in the world did the folks at the Wind Pool do to get everybody to think they had everything under control? I say roll some heads, including “Pretty Boy Rick Perry”.
Fight people..fight til the bitter end.They insurance companies are banking,literally on the fact that homeowners will give up and lay down.They’re crooks and scum. I deal with them on a daily basis in my profession and have been to the puppet show and I’ve seen all the strings.Don’t give up.
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The only mention of reinsurance in this article is that it exists. Do we have any idea how much that will pay, and when it will kick in? They seem to be pulling a number out of the sky with the $430 Mil assessment. You might think that was the remainder before the reinsurance would start, but since they say more assessments might be necessary, that must not be the answer.
It is my understanding TWIA had a $100 million balance and $500 million reserve which had been reached. They also have $1.5 Billion in reinsurance. I have heard numbers of about $2 Billion above these funds. It will all depend on how successful the denial of coastal claims on the basis of surge goes. If some smaller companies cannot pay their assessment, they go back into the pot so some companies could reach over 100% of the actual assessments.
Hey, I been tellin you guys that we need someone that doesn’t do their actuarial calculations on a Big Chief pad, to head the pool. Lawdy, lawdy….what in the world did the folks at the Wind Pool do to get everybody to think they had everything under control? I say roll some heads, including “Pretty Boy Rick Perry”.
Fight people..fight til the bitter end.They insurance companies are banking,literally on the fact that homeowners will give up and lay down.They’re crooks and scum. I deal with them on a daily basis in my profession and have been to the puppet show and I’ve seen all the strings.Don’t give up.