12 June 2018Insurance

Texas hailstorm losses estimated at $1bn

The hailstorm that spread across part of Texas on June 6 - with baseball sized hail reported in Dallas, Tarrant, and Denton counties - is estimated to result in insured losses close to $1 billion, according to Karen Clark & Company (KCC).

KCC’s estimates are an accumulation of the losses from damage to residential and commercial properties, along with automobiles.

The Insurance Council of Texas suggested that 20,000 residential structures and 25,000 automobiles have been damaged. Residential and commercial damage is expected to occur to roofs, windows, skylights and solar panels.

An intrusion of a maritime tropical air mass provided an ideal environment for severe convective storm (SCS) formation, according to KCC.

On the night of June 5, an isolated storm formed north of Dallas, near McKinney, TX. The storm progressed southward with the mean atmospheric winds against the surface flow. The unidirectional winds allowed the storm to split into right-moving and left-moving cells less than an hour after forming.

Generally, left-moving cells dissipate relatively quickly, and right-moving cells maintain intensity. In the case of this storm, the left-moving cell dissipated as expected, and the right moving cell brought large hail to the Dallas-Fort Worth area,” KCC said.

“The observed radar reflectivity values of over 65 dBZ indicated the potential for large hail formation, and baseball-sized hailstones were reported in Carrollton and Coppell. The storm produced destructive hail for nearly an hour and dissipated south of Arlington around 3:00am CDT on June 6.”

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More on this story

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6 July 2018   Powerful thunderstorms led to extensive damage across parts of the Central and Eastern United States from June 29 to July 4, causing economic and insured losses expected to well exceed $100 million, according to Aon’s Weekly Cat Report.
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30 May 2018   The insured loss in the US from Subtropical Storm Alberto will be close to $50 million, according to Karen Clark & Company (KCC) estimates.
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10 April 2018   Annual expected insured losses for the severe convective storms (SCS) peril, including catastrophe and non-catastrophe events, are approaching $25 billion, higher than the hurricane and earthquake perils combined, according to a new report by Karen Clark & Company (KCC).