Oklahoma and Texas Experience the Costliest Natural Disasters
Carol Christian shares news of a new report from the Insurance Information Institute, which gives a dubious distinction to the states of Oklahoma and Texas, which last year had “the nation's highest insurance payouts related to natural disasters.”
“Oklahoma topped the list with 2013 payouts of nearly $2 billion, while Texas was in second place at $1.51 billion in insured losses.” Christian also pointed out that Texas achieved that unfortunate distinction in a non-hurricane year.
By way of historic perspective: “In 2012, New York and New Jersey led the United States in catastrophic losses due to Hurricane Sandy, according to the institute.” And “Over the past 30 years, Texas has had the second-highest catastrophic losses, at nearly $49 billion. Only Florida, with $66.7 billion, topped the Lone Star State's disaster tally.”