Hailstorms Are the Costliest Natural Peril in Texas

November 14, 2012

Hurricanes may garner more attention but in Texas, hailstorms, not hurricanes, are the most damaging weather events that Texans face annually, according to the state’s insurance regulators. And, unlike hurricanes, hailstorms occur in every part of the state.

Last year Texas had more severe hail events than any state in the country, causing $1.7 billion in insured losses statewide.

More than half of the total losses paid by Texas property/casualty insurers over the last 12 years have been weather-related, with hail as the most costly peril, according to the Texas Department of Insurance. During this time period, hail losses exceeded those caused by hurricanes and tornados combined.

TDI is sponsoring a one-day conference for insurance industry professionals to focus exclusively on the issue of hail in Texas. The “War on Hail” conference, the first of its kind, will take place on Nov.27, 2012 at the Irving Convention Center, and will bring together a unique panel of experts in severe weather prediction and protection, home construction techniques, and insurance underwriting.

Texas Insurance Commissioner Eleanor Kitzman will facilitate the meeting and offer insights on hailstorm impacts from the insurance regulator’s perspective.

Continuing education credit hours (6.5) will be approved by the TDI Licensing Division for insurance agents and adjusters.

More information about the “The War on Hail” conference is available online at: http://www.tdi.texas.gov/commish/waronhail.html.

Source: Texas Department of Insurance

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