Spring storms in Texas caused more than $1.5B in losses - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Spring storms in Texas caused more than $1.5B in losses

AUSTIN, Texas (AP) - An insurance group says spring storms across Texas caused more than $1.5 billion in property losses.

The Insurance Council of Texas on Thursday provided the damage estimate for April and May storms. Memorial Day weekend flooding in parts of Central Texas claimed more than two dozen lives.

Council 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.

Council 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.

The Insurance Council of Texas is the nation's largest state insurance trade association.
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Online: https://insurance council.org/

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