More than 700,000 insurance claims have been filed from Hurricane Ike, and two years after the storm claims continue to be reported. The Texas Windstorm Insurance Association (TWIA) receives approximately one new claim every day. Some of the state’s largest insurance companies are also seeing new Ike claims, the Insurance Council of Texas reported.
Homeowners had two years from the date of the storm – Sept. 13, 2008 – to file claims to be fully reimbursed. A claim filed after two years can only be considered paid under an actual cash value agreement rather than full replacement. Additional time can be offered if homeowners have asked for an extension.
TWIA has paid insured losses of $1.85 billion, but losses may reach $2.3 billion. The number of TWIA claims from Ike has risen to 92,800, and 4,800 lawsuits have been filed. More than 2,500 of the lawsuits have been settled.
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