b2ap3_thumbnail_stormdamage.jpg

Costliest Texas Storms of 2012

The Insurance Council of Texas has ranked the top 21 costliest Texas storms in 2012 dollars, from 1950 to present. Three of the top 21 were in 2012.

 

Number Ten was a hail storm in the Dallas/Ft. Worth area on June 13, 2012.

 

Number Eleven was a combination tornado and hail storm, also in the Dallas/Ft. Worth area, on April 3, 2012.

 

 

Number Twenty One: a hail and wind storm on March 29, 2012 in McAllen.

 

The multiple tornadoes and hail that pounded the Dallas/Fort Worth area on April 3 totaled an estimated $775 million in insured losses, while the June 13 storm caused an estimated $890 million in insured losses in the area. The third costliest storm in Texas last year occurred in south Texas in McAllen, where estimated insured losses from wind and hail damage totaled $260 million.

 

Texas recorded seven catastrophic weather events in 2012 that resulted in $2.3 billion in insured losses. The Dallas/Fort Worth area received the brunt of the damage from tornadoes and hail storms that occurred in April and June.

 

ISO Services, which compiled the data, reported 26 weather catastrophes striking the country last year. ISO defines a catastrophe as a weather or man-made event that causes $25 million or more in insured property losses and affects a significant number of people. The insured losses from Hurricane Sandy are currently estimated to be $11 billion of the country’s $27 billion total catastrophic losses in 2012.

                                                           

Gary Kerney, assistant VP for property claims services with Verisk Insurance Solutions, said Texas had a quarter of the nation’s catastrophic weather events and recorded about 10 percent of the total insured losses.

                                                           

“The number of weather catastrophes for the country was about average last year including the total insured losses,” said Kerney. “With the exception of Hurricane Sandy, Texas led all other states in insured weather losses.”

                                                           

All seven of the weather catastrophes in Texas occurred between March 18 and June 13. “While the rough weather may have started a little early last year, the catastrophic events occurred during what is typically the height of the storm season in Texas,” said Mark Hanna, a spokesman for the Insurance Council of Texas.

                                                           

ISO’s estimated insured losses include storm damage to homes, cars and businesses, but exclude flood damage that would be provided by coverage from the National Flood Insurance Program.

                                               

Source: Insurance Council of Texas


Follow Us on Facebook – Twitter – YouTube – LinkedIn – Google + 

 

 

For Email Marketing you can trust

 

Leave a Comment

START TYPING AND PRESS ENTER TO SEARCH