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Insured losses from Texas blast at $100million


Insured losses from Texas blast at $100million

On 17 April, a huge blast at a fertiliser factory killed dozens of people in West, Texas.

The explosion caused a large fireball and shockwave that ripped through surrounding buildings, including a school and nearby nursing home. 

The fatality count from the blast is at 15 and 200 people are injured. The impact of the explosion caved in garage doors and blew out windows in a large radius of the plant.  One loss adjuster said a policyholder described to him that cans of food inside her home had exploded but the house had no broken windows.  Many homes, however, have plywood over what were windows and doors.  Insured losses are now at a total of $100million.

Mark Hanna, a spokesman at the Insurance Council of Texas said, "For a community the size of West that is pretty large". He added that the number of homes believed to be destroyed has climbed to 140 and many others will need major repairs. He went on to add, "As far as I can tell, every policyholder in West has been contacted by their insurance company and help has been offered".

The Insurance Council of Texas is the largest state insurance trade association in the country consisting of approximately 500 property/casualty insurers writing business in Texas.

The blast in Texas is another example of how insures are at the forefront of recovery when disasters strike.  In particular, Loss Adjuster's are responsible for helping insurance companies and policyholders resolve complex claims that occur from events like this.

If this is the type of role you think you might be suited to you might be interested to know that Crawford & Company, a major global loss adjuster, are looking for a graduate to join their team.  To find out more click here.
 
For a more detailed description of what the role of a loss adjuster includes why not take a quick glance at Paul Hill's vidcast on the case study page.

 


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