10 July 2012Insurance

Hail storms cause $1 billion losses in Texas

Insured losses resulting from hail storms in Texas for June will exceed $1 billion, according to Aon Benfield’s June Global Catastrophe Recap*.

The losses occurred when thunderstorms caused hailstorms, which resulted in hailstones falling that were reportedly the size of golf and baseballs.

A separate hail event in Colorado and Wyoming caused more than USD700 million in insured losses.

*The figure quoted in the report comes from The Insurance Council of Texas.

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