$3.1 billion to cover claims … you have got to be kidding!
Here’s the data I have on the TWIA funding structure:
1. Money available from premium – $54 million
2. CRTF – $182 million
3. No Class 1 bonds — they are officially unmarketable
4. Iffy Class 2 bonds — half have to be repaid by TWIA future revenues and they are getting striped by Ike claims.
5. Class 3 bonds I think – $500 million.
Depending on whether you think the Class 2 bonds can be sold (my opinion is that they are not sell-able as currently structured), TWIA has as little as about $800 million to at most $1.8 billion.
A big hurricane (Galvestion 1900, Galveston 1915, Aubrey, Carla 1961, Rita as projected 2005, Indianola 1886, et. al.) would put a claims load on TWIA as high as $6.8 billion (per their own projections).
Email me and I would welcome sharing the Public Information Requests and TPFA testimony that these statements are based on.
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$3.1 billion to cover claims … you have got to be kidding!
Here’s the data I have on the TWIA funding structure:
1. Money available from premium – $54 million
2. CRTF – $182 million
3. No Class 1 bonds — they are officially unmarketable
4. Iffy Class 2 bonds — half have to be repaid by TWIA future revenues and they are getting striped by Ike claims.
5. Class 3 bonds I think – $500 million.
Depending on whether you think the Class 2 bonds can be sold (my opinion is that they are not sell-able as currently structured), TWIA has as little as about $800 million to at most $1.8 billion.
A big hurricane (Galvestion 1900, Galveston 1915, Aubrey, Carla 1961, Rita as projected 2005, Indianola 1886, et. al.) would put a claims load on TWIA as high as $6.8 billion (per their own projections).
Email me and I would welcome sharing the Public Information Requests and TPFA testimony that these statements are based on.
Thanks, David
David Crump, The Focused Moderate
davcrump@yahoo.com