Thursday, June 25, 2009
Perry Signs Windstorm Bill
Governor Rick Perry was in Corpus Christi, Texas yesterday to sign into law the “windstorm insurance bill”, or HB4409. Speaking to a crowd of hundreds, Perry lauded the bipartisan efforts of the Corpus Christi legislative delegation, Sen. Juan “Chuy” Hinojosa, Rep. Todd Hunter, Rep. Abel Herrero and Rep. Solomon Ortiz Jr.“This legislation addresses a number of issues that have made it tough for insurance companies to remain engaged along the Texas coast, making it difficult for citizens to get the windstorm coverage they need and exerting upward pressure on insurance premiums across the state,” said Governor Perry, in a prepared statement.
The legislation will insure up to $2.5 billion in losses and will loosen up restrictions on funding for recovery.