Twia lines up early cover for 2017

The Texas Windstorm Insurance Association (Twia) has obtained a
$350mn reinsurance deal to provide coverage for 2017 in the event
that losses this year erode its surplus.
If triggered, the second-season cover will provide Twia with
$350mn to meet 50 percent of its first $700mn of claims in excess
of $2bn recorded during the 2017 hurricane season.
Twia's catastrophe reserve trust fund is currently at its
largest ever balance at approximately $600mn.
Any remaining balance in the fund would inure..