Storms during April and May in Texas caused more than $1.5 billion in property losses, according to the Insurance Council of Texas.
ICT spokesman Mark Hanna says paid residential property losses in April and May were close to $900 million from 114,000 claims. The same months last year had about 72,000 claims and $650 million in paid losses.
ICT officials say, with 95 percent of the claims settled, Texas flood losses to homes and businesses topped $400 million. Texas insurers say losses from vehicles in floodwaters added $300 million.
Topics Trends Texas Profit Loss Windstorm
Was this article valuable?
Here are more articles you may enjoy.
Private Equity Firms Expected to Unleash Middle-Market M&A Deals, Survey Says 
Is the AI Boom a Bubble Waiting to Pop? Here’s What History Says 
New York Regulates Consumer Litigation Financing 
Howden Buys M&A Insurance Broker Atlantic Group in US Expansion From This Issue
