New Mexico’s Winter Gas Shortage Cost $55M in Claims
A memo from the state Public Regulation Commission’s Insurance Division says homeowners received the most help representing 7,422 of the nearly 8,900 claims that were paid and almost $45 million of the total insurance payout.
The Santa Fe New Mexican reports more than $10 million went to pay off 1,352 commercial or business claims, while less than $200,000 went to 87 automobile claims.
All told, 9,600 insurance claims were submitted, 273 were denied, and 474 resulted in no insurance company payouts.
The February snowstorm left an estimated 32,000 homes and businesses in New Mexico without natural gas for several days.
Copyright 2024 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Popular Today
- Farm Bureau Must Defend Insured in Deadly Legionnaires’ Disease Outbreak in Carolina
- 4,800 Claims Handled by Unlicensed Adjusters in Florida After Irma, Lawsuit Says
- EPA Designates PFAS Chemicals as Superfund Hazardous Substances
- Insurers Get Green Light to Pay Less Than Billed Charges in Florida PIP Cases
Popular This Month
- Millions of Recalled Hyundai and Kia Vehicles, With Dangerous Defect, Remain on Road
- Report: Vehicle Complexity, Labor ‘Reshaping’ Auto Insurance and Collision Repair
- CoreLogic Report Probes Evolving Severe Convective Storm Risk Landscape
- Florida’s Home Insurance Industry May Be Worse Than Anyone Realizes