Property insurers in Texas are increasingly at risk of insolvency and some are pulling out of the market altogether, potentially forcing property owners across the state to pay for damages if another major storm hits the region, E&E News reports. The insurance industry’s ongoing retreat from the Gulf region is setting off unprecedented reliance on state-backed insurance programs, potentially overwhelming its ability to pay claims after a major storm. The crisis reflects similar viciously-cyclical, and climate-fueled dilemmas across the insurance industry more broadly and specifically in Florida and Louisiana, as well as California and elsewhere. (E&E News)
