Insured losses from Texas plant explosion estimated at $100 million

Insured losses from the April 17 Texas fertilizer plant explosion that damaged surrounding property will likely be around $100 million, the Insurance Council of Texas said Wednesday.

About 140 homes in West, Texas were destroyed after the blast, which caused 14 fatalities and left up to 200 people injured, according to the insurance council, which represents about 500 property and casualty insurers writing business in the state.

The plant was operated by Adair Grain Inc. in the town of about 2,800 people. At least two lawsuits have been filed against the company, according to a report from the Associated Press.

At print time, the cause of the explosion was still unknown and investigators were still looking into how the fire that caused the blast was started.  

The explosion caved in some garage doors and blew out windows of buildings in the radius of the plant, the insurance council said. “Many homes that appeared unaffected by the blast had an X marked on the door indicating major damage inside,” its statement said.

Obama to attend service today for victims of Texas blast. Waco workers will fill in for West’s, to let them go too. on.cnn.com/10exbw0

— CNN Breaking News (@cnnbrk) April 25, 2013

“As far as I can tell, every policyholder in West has been contacted by their insurance company and help has been offered,” spokesperson Mark Hanna noted in the statement.

“One insurance adjuster said a policyholder described to him that cans of food inside her

home had exploded but the house had no broken windows,” the group said. “Many homes have plywood over what were windows and doors,” its statement added.

The insurance council also noted that additional living expense cheques have been issued for some policyholders who need shelter, food, clothing and transportation.

The American Red Cross has also met with 180 families seeking help and the agency said it has agreed to pay the first month’s rent for those who need housing, the insurance council said.

Construction crews are also already on the ground beginning repairs, according to the insurance council.