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State answers questions about TWIA receivership - The Galveston County Daily News : Local News

August 23, 2014

State answers questions about TWIA receivership

Posted: Saturday, March 23, 2013 2:30 am | Updated: 9:27 am, Sat Mar 23, 2013.

GALVESTON — Putting Texas Windstorm Insurance Association into receivership would not place current policies in peril, according to a fact sheet released by the Texas Department of Insurance.

The department released a four-page statement Thursday, a day after the revelation that the windstorm association’s board scheduled an emergency meeting to discuss its financial situation and to discuss the possibility of putting the association into receivership, a process that is similar to bankruptcy.

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