August 26, 2003 by Canadian Underwriter
The state of Kansas says 2003 has been a difficult year for insurers who have already paid out US$256 million for storm losses between April and July.
“The storm season extended well beyond spring this yearand we’ve exceeded the amount of damage reported in all of 2002,” says Insurance Commissioner Sandy Praeger. “In July, the estimate of insured property loss for the state was US$41 million.”
Tornadoes through the month of May produced almost US$77 million in insured damage, and June saw total insured property damage of US$83 million.
This compares with US$248 million in insured damage for the 2002 storm season.