Mike Johnston
EF5
Evidently, the hail storm in Dallas on Wednesday could result in insurance claims for property damage up to $2 billion! That is a historically huge number in terms of storm damage. Just goes to show potential impact of severe storms hitting highly populated areas. I know sometimes people actually welcome a hail storm as an opportunity to replace an aging roof for only the cost of their deductible. Still, so much concentrated damage is enough to move the needle high on insurance premiums going forward, especially in areas prone to severe thunderstorms.
Details here:
http://news.yahoo.com/dallas-storm-insured-losses-could-hit-2-billion-142728176--finance.html
Details here:
http://news.yahoo.com/dallas-storm-insured-losses-could-hit-2-billion-142728176--finance.html