ISO Says Insurers Will Pay $1.2B in Storm Claims in 10 States
U.S. property/casualty insurers are expected to pay policyholders an estimated $1.2 billion for insured property-loss claims from a winter storm and windstorm catastrophe that pummeled 10 states in early April, according to preliminary estimates by Insurance Services Office, Inc.’s (ISO) Property Claim Services (PCS) unit.
Texas was hit hardest, sustaining $885 million in insured property losses from an estimated 285,000 claims. Wind gusts exceeding 80 miles an hour and hail the size of baseballs pounded several Texas counties along the path of the thunderstorm. Missouri insured losses were the second highest at $110 million.
- Insurers Get Green Light to Pay Less Than Billed Charges in Florida PIP Cases
- Florida’s Home Insurance Industry May Be Worse Than Anyone Realizes
- Work Safety Group Releases List of ‘Dirty Dozen’ Employers
- Growing Progressive Set to Hire 10,000 for Claims, IT, Other Roles
- California Chiropractor Sentenced to 54 Years for $150M Workers’ Comp Scheme
- Poll: Consumers OK with AI in P/C Insurance, but Not So Much for Claims and Underwriting
- CoreLogic Report Probes Evolving Severe Convective Storm Risk Landscape
- Millions of Recalled Hyundai and Kia Vehicles, With Dangerous Defect, Remain on Road