Dallas insured loss estimates fall sharply

Insured losses from last week’s violent hailstorm in Dallas should be just under $1 billion, a trade group for Texas insurers said on Tuesday, sharply less than what another industry group estimated last week. The Insurance Council of Texas, via its spokesman’s Twitter account, said losses should fall "just short of" $1 billion from the storm, which was the worst of its kind in the area in about nine years. Last Friday, the Southwestern Insurance Information Service, which speaks for insurers in Texas and Oklahoma, preliminarily estimated losses at $1.5 billion to $2 billion.