2019 Dallas Tornadoes: Costliest Tornadoes in Texas
The Insurance Industry Responds

 

FOR IMMEDIATE RELEASE: OCTOBER 20, 2020
CONTACT: Camille Garcia, Director of Communications and Public Affairs 512-713-4262

 

Texans are resilient as evidenced by the way we respond to the number of weather catastrophes we face every year. Hurricanes, hail, winds, flood and tornadoes are the hallmarks of our Lone Star state. Today, marking the one year anniversary of the Dallas tornadoes that swept through Dallas and Collin counties as well as parts of Ellis, Hood, Parker and Tarrant counties, we see evidence of this resiliency as communities have rebuilt homes and businesses.

 

After a series of tornadoes touched down in North Texas on October 20, 2019, many insurance company adjusters descended upon the region, some within 24 hours, to help our Texas neighbors. Companies had mobile claims offices with drive through capabilities up and running within a couple of days of the event, offering customers a way to begin their claims process, with many policyholders receiving some form of initial claims payment to assist with immediate needs. With almost 37,000 claims paid to date, Texas insurers have paid over $1.2 billion in losses as of May 2020.  The overwhelming majority of the claims have been paid and resolved and according to the Texas Department of Insurance, less than 0.1% of claims have resulted in consumer complaints filed with the agency responsible for regulating the Texas insurance industry.

 

Estimated losses of $1.5 billion make this event the costliest tornado in Texas and the ninth costliest disaster going back to 1970.   (see image)

 

Texas is home to all sorts of weather challenges. We often rank in the top two states for natural weather disasters and it’s the reason we need to keep ever vigilant, protecting ourselves, our families, our property from these catastrophic occurrences. Talk to your agent or carrier today and make sure you are covered for what tomorrow brings.  

 

The Texas insurance industry is committed to our customers and we recognize the importance of remaining financially solvent to be there when our customers need us most. If you have any questions, or are looking for additional information, contact, Camille Garcia, Director of Communications and Public Affairs at cgarcia@insurancecouncil.org or 512-713-4262.

 

We invite you to take a look at the State of the Texas Property & Casualty Market, an ICT publication that includes stats around the size of the Texas insurance market and its contribution to our state’s economic vitality.

 

 

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