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2016 Already Setting Record Insured Losses

Damaging hail storms and wide-spread flooding have caused record setting losses for both homes and automobiles this year in Texas.  This year’s insured losses for the first two quarters already surpass every year’s total losses dating back to Hurricane Ike in 2008. “Hailstorms have already totaled $4 billion for residential property losses alone in Texas this year,” said Mark Hanna, a spokesman for the Insurance Council of Texas.  “Hail and flooding has caused more than $1 billion in auto losses.  This year’s losses for both home and auto have doubled the annual losses we have seen in the past several…