2016 Weather Losses
2016 promises to be a rough year for both homeowners and for insurance companies doing business and paying damage claims in our state.
Just halfway through 2016, the insurance industry already is facing more than $6 billion in payouts, primarily from hail-driven events. By mid April, insured losses in Texas already had met the nine-year average for hailstorm damage in the United States. And that was before San Antonio suffered three hailstorms – including one that was the costliest hailstorm in Texas history – with estimated insured losses to automobiles and homes and businesses reaching $1.9 billion.