- Associated Press - Thursday, November 12, 2015

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.



___

Online:

https://insurancecouncil.org/

Sign up for Daily Newsletters

Manage Newsletters

Copyright © 2021 The Washington Times, LLC.

Please read our comment policy before commenting.

 

Click to Read More and View Comments

Click to Hide