At least 16 people are dead after a series of tornadoes ripped through Arkansas, Oklahoma, Iowa and Kansas last night. The town of Vilonia, Arkansas, population 4,100, was hit hardest, with nine victims on the same street. The New Vilonia Intermediate School, scheduled to open in August, was destroyed.
The Texas Windstorm Association will not go into recievership as some suspected last week when they announced a meeting to discuss the idea. Created in 1971 to provide windstorm and hail insurance to those unable to obtain it from the usual markets, TWIA has been struggling to pay claims after a slew of lawsuits from Hurricane Ike in 2008.
The Texas Windstorm Insurance Association was created in 1971 to provide windstorm and hail coverage to those unable to get insurance from other carriers. Unfortunately, the TWIA has been in financial trouble after getting hit with losses from Hurricane Ike in 2008, to the tune of over $2.5 billion!