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Bigger in Texas: State led country for first-half nat cat losses

Texas sustained $1.8 billion in 2014 first-half catastrophe lossesincluding $1.4 billion in Q2to lead all states during what was generally a mild stretch for cats in the U.S.

By Phil Gusman | Updated on July 23, 2014

Texas sustained $1.8 billion in 2014 first-half catastrophe losses—including $1.4 billion in Q2—to lead all states during what was generally a mild stretch for cats in the U.S.

PCS says Texas was a part of seven catastrophe events in 2014′s first half. The three biggest were wind and thunderstorm events that occurred from March 27-29 ($375.8 million in insured losses in the state), April 2-4 ($761.2 million) and Jne 12-13 ($361.8 million).

Illinois and Pennsylvania followed Texas with $737 million and $677 million in first-half cat losses, according to Property Claim Services’ Q2 2014 Catastrophe Review.

Overall, PCS says first-half cat activity hit 36 states, while losses, at $9.5 billion, were about in line with the 10-year average at $9.7 billion. PCS says this is the first time since 2010 cat losses were below $10 billion in the first half of the year, and the lowest losses have been since 2009. 

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