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Industry body places Dallas tornado outbreak's insured damages at $2B

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Industry body places Dallas tornado outbreak's insured damages at $2B

The Insurance Council of Texas has estimated that a recent tornado outbreak in Dallas County caused insured damages of $2 billion.

A total of 10 confirmed tornadoes touched down in North Texas late on Oct. 20. The outbreak was the most-expensive tornado event in Texas history, according to the insurance council.

Preliminary projected estimates include more than 30,000 auto and home claims. Commercial and business claims projections are still coming in, the council said, so the financial impact is likely to increase further.

The Garland/Rowlett tornado of Dec. 26, 2015, resulted in insured losses of $1.2 billion, the insurance council noted. The most recent outbreak extended over a wider area and impacted a variety of homes and commercial properties, knocked down power lines and made roads impassable.

State Farm Mutual Automobile Insurance Co. wrote the most homeowners and private auto physical damage business in Texas in 2018. Hartford Financial Services Group Inc. was the biggest writer of commercial multiperil business in the Lone Star State last year, followed by Travelers Cos. Inc. and Nationwide Mutual Insurance Co.

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