Spring Storm Season Cost Texas Residential Property Insurers Nearly $900M

Severe storms in Texas in April and May of this year have resulted in paid residential property losses close to US$900 million from 114,000 claims, the Insurance Council of Texas (ICT) said on Thursday. Beginning in late March, multiple severe thunderstorms rolled across the state, producing large hail, tornadoes and heavy rainfall, the ICT said in a press release. The string storm season ended in late May and early June with flooding from the Red River to the Texas coast. “Windstorm losses in both April and May were much higher than in 2013 and 2014,” said Mark Hanna, a spokesperson for the ICT, in the release.