North Dakota Insurance Commissioner Adam Hamm reported that the Memorial Day wind storm in the Fargo area so far has caused more than $4.2 million in damage.
Reports to Hamm from several insurance carriers who write business in the affected area indicate that 1,740 claims have been submitted and $4.2 million has been paid out. Another 286 claims are still pending with reserves of more than $1.6 million.
The estimate of damage takes into account homeowners, auto, commercial and other property. Of the $4.2 million total, $340,000 consists of damage to city and county property insured by the State Fire and Tornado Fund. The total does not represent a final amount of damage from the storm.
“These numbers may increase slightly as companies process the open claims and possibly receive more claims,” Hamm said.
Topics Profit Loss Windstorm
Was this article valuable?
Here are more articles you may enjoy.
AIG’s Zaffino to Step Down as CEO as Aon’s Andersen Steps In 
Longtime Motel 6 Spokesman Tom Bodett Settles Lawsuit Against Chain 
Relief But Questions on Agents’ Duties to Insureds After Florida Court Ruling 
Florida Insurance Agency VP Sentenced to 3 Years in Massive ACA Fraud Scheme 
