Fargo Storm Could Top $5.8 Million in Losses

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