Amarillo, Texas Hail Toll at $500M; Loss at Par with Hurricanes

Texas insurers have written checks for $500 million to pay claims on hail damage from a May 28 storm in Amarillo. 

 “The Amarillo hailstorm just became the 10th costliest storm on record in the state,” says Mark Hanna, a spokesman for the Insurance Council of Texas.  “The losses from this hailstorm are comparable to Hurricane Dolly that struck South Padre Island back in 2008.” The storm is the costliest in Amarillo’s history. 

ICT released the figure from ISO’s Property Claim Services. Tens of thousands of claims were filed.

Last May a storm moved over the city and caused damage to about 75 percent of residential property in the city, pelting it with baseball-size hail and high winds. Amarillo is the fourteenth most populated in Texas with about 194,000 people. 

The storm system, which included tornadoes, caused $1.3 billion in insured losses to seven states. After Texas, it moved onto Oklahoma, where it caused an additional $450 million in damage, ICT says. 

By far, Texas leads all other states in significant hail events (see chart). 

There were 7,031 major hail storms in 2012, according to statistics culled from NOAA’s Severe Storms database. Most storms happened in March, April and May.

READ: Top 10 States for Wind and Hail Losses

 

Comments

Resource Center

View All »

Making Coverage Letters Work for Your Clients

If you're a broker or insurance buyer with any length of service in the commercial...

Complimentary White Paper: The Compression of Workplace Time

How brokers and carriers respond to the compression of workplace time will create significant competitive...

The Changing Insurance Consumer: 6 Ways to Create Profitable Relationships

Today’s mobile and web-savvy consumers have new expectations when it comes to interacting with your...

Contractors General Liability Coverage 102

What is a prior work exclusion? Which option is right for my client? Why do...

Sign up today to get a 50% matching credit -...

Insurance marketing sometimes seems like it's a game of swings and misses, but we're here...

Guide: 5 Steps to Selling Cyber

Cyber risk and data security is on the agenda of every business owner and executive....

Citation Correlation

Do rigger and signalperson qualifications correlate with the cause of crane and rigging accidents? ...

Complete Guide to Electronic Signatures in Property & Casualty Insurance...

In property and casualty insurance, closing new business quickly is key. Learn how to leverage...

INSTANT ACCESS: Complimentary Sales Closer Questionnaires

Help property owners or managers compare your commercial residential property insurance coverage vs. the competition....

Determining Vacant Property Perils and Valuations

Are your clients fully covered for Vacant Properties? In this economic climate, your insureds may...

Claims Connection eNewsletter

Breaking news on disasters, fraud, legal trends, technology, and CE initiatives for the P&C claim professional – FREE. Sign Up Now!

Claims-Handling Guidelines

Claims Magazine is providing the following free guidelines and regulations in order to help adjusting professionals stay abreast of each state’s unique property and casualty claim-handling requirements.

View our State Guidelines »

Advertisement. Closing in 15 seconds.