Insured losses from Harvey to top Ike, Insurance Council of Texas says
Hurricane Harvey caused $19 billion in insured losses, topping Hurricane Ike, until now the costliest storm to hit Texas with $12 billion in insured losses, the Insurance Council of Texas said Friday.
Insured windstorm and other storm-related property losses are expected to top $3 billion. This doesn't include residential property losses due to flooding or any uninsured losses.
The flooding of some 250,000 private passenger and commercial vehicles is expected to result in $4.75 billion in losses.
On top of those, Federal Emergency Management Agency administrator Roy Wright previously said he expects the National Flood Insurance Program to make $11 billion in payments to homeowners who carried flood insurance. Those flood losses would be the second highest on record after Hurricane Katrina.
Read more: http://www.chron.com/business/bizfeed/article/Insured-losses-Harvey-Ike-Insurance-Council-Texas-12200617.php
