No need for anything close to panic yet, but as pointed out by Eric Berger (the best writer on the subject I know) of the Houston Chronicle, there is some risk that Hurricane Isaac will make landfall near Jefferson County (Beaumont / Port Arthur). The graphic below shows one projection.
What’s TWIA’s maximum exposure in Jefferson County? As of June 30, 2012, it was $8.4 billion. Now, of course no hurricane would wipe out every stick of property in the county, but if you start adding Jefferson exposure together with that of neighboring Chambers County ($1.7 billion) there is some modest cause for concern. If more projections start to indicate the Texas coast as the landfall point for Isaac, I’ll try to take a harder look at damage projections.