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Texan troubles

Dear friend,

Here's a great piece of journalism from the Galveston Couny Daily news

It's all about the trials and tribulations of the Texas wind pool, wondering whether they should be spending scarce cash on reinsurance or using the funds to shore up thin catastrophe reserves instead.

Predictably those representing consumers voted against spending too much on reinsurance and many others expressed the wish that they didn't have to buy reinsurance at all (although at 15 on line the deal on offer didn't look too bad for a what looks like a very low-lying layer)

And I love the line that buying reinsurance is the only sensible thing to do - well said that man!

- Anyway read on.

One is only a little surprised that cover isn't in place yet!

They shoud get a move on - we're already on letter C, after all.

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