It Figures

165

The estimated incurred loss ratio for insurers in Texas in 2008 is a record high of 127; the combined loss and expense ratio is 165. Texas Department of Insurance “Texas Homeowners Insurance Loss Data 1992-2008” report puts estimated losses for 2008 at $6,565,744,849, while direct premiums earned by homeowners insurers for 2008 came in at $5,169,021,636. TDI says the 2008 loss data is preliminary but represents data from all major insurers.

$250 Million

At the end of March, Oklahoma was preparing to award $250 million in contracts for road and bridge projects planned for all areas of the state. They are in addition to those in the regular eight-year construction plan of the state transportation department. The projects were outlined in what officials described as the biggest single transportation bid letting ever in Oklahoma, which is getting $465 million overall from the federal stimulus package for road and bridge construction. AP

$22.5 Million

The lone survivor of a helicopter crash that killed eight people in Louisiana in January has sued the aircraft’s manufacturer and two other companies for $22.5 million. A federal lawsuit filed on behalf of Steven Yelton, of Floresville, Texas, and his wife, Kelly, seeks damages from Sikorsky Aircraft Corp., PHI Inc. and Aeronautical Accessories Inc. The suit claims PHI, the helicopter’s owner, installed a defective Plexiglass windshield made by Aeronautical Accessories on the Sikorsky S-76C helicopter. It is the fourth such lawsuit filed as a result of the crash.

$160 Million

A hailstorm in Central Texas on March 25 knocked out windows, smashed roofs and dented thousands of automobiles causing an estimated $160 million in insured losses. The fast moving storm pummeled Marble Falls, Texas, with golf ball size hail; tennis ball size hail was reported in parts of Travis and Williamson Counties. Hundreds of new cars in several automobile dealerships were heavily damaged. In all more than 22,000 vehicles were damaged in the storm and nearly 15,000 homes received insured losses, according to the Insurance Council of Texas.

Topics Texas