Texas takes circa $1bn insured hail hit

One particularly damaging hailstorm is has been estimated to cause insured losses of close to $1bn according to risk modeller Karen Clark & Co. Most of the losses occurred in Texas, making the event one of the most damaging hailstorms to impact the Lone Star State. This single event would account for considerably more than half of the insured losses of $1.5bn estimated for the US in the entire month of May. Insured losses from the early June hailstorm include damage to residential and commercial properties, as well as automobiles following reports of baseball-sized hailstones in Dallas, Tarrant, and Denton counties. The Insurance Council of Texas has estimated that 20,000 structures and 25,000 automobiles were damaged by the hailstorms, while roofs, windows, skylights and solar panels were also hit. According to Aon, hail also caused heavy insured losses in Canada and the US in May, with Lubbock County in Texas suffering a high level of damage from those events. Texas has a history of damaging hailstorms, with 2016 emerging as a particularly damaging year following $4bn worth of losses in 2016, with much of that impacting the Dallas Fort Worth area.

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