Canadian Underwriter

Early April storms south of the border cost insurers US$1.2 billion

April 25, 2003   by Canadian Underwriter

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Winter and windstorms that hit 10 states between April 4 to 8 will cost insurers US$1.2 billion, suggest early estimates from the Property Claims Services Unit (PCS) of the Insurance Services Office (ISO).
At this point, PCS expects insurers will see more than 386,000 claims as a result of the damage caused by ice, snow, freezing rain, wind, hail, tornadoes and flooding to homes, vehicles and businesses.
Among the states effected, Texas was hardest hit with US$885 million in insured damage on 285,000 claims. In this state, wind gusts topped 80 mph and hail the size of baseballs was reported.
Missouri also sustained significant damage, expected to cost insurers US$110 million.

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