North Dakota Insurance Commissioner Adam Hamm reported that the Memorial Day wind storm in the Fargo area so far has caused more than $4.2 million in damage.
Reports to Hamm from several insurance carriers who write business in the affected area indicate that 1,740 claims have been submitted and $4.2 million has been paid out. Another 286 claims are still pending with reserves of more than $1.6 million.
The estimate of damage takes into account homeowners, auto, commercial and other property. Of the $4.2 million total, $340,000 consists of damage to city and county property insured by the State Fire and Tornado Fund. The total does not represent a final amount of damage from the storm.
“These numbers may increase slightly as companies process the open claims and possibly receive more claims,” Hamm said.
Topics Profit Loss Windstorm
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