A beleaguered Texas continues to battle new outbreaks of wildfires across the state, and the Insurance Council of Texas says losses could reach a quarter-billion dollars as the number of homes lost rises to close to 2,000.
Mark Hanna of the Insurance Council of Texas says in a statement that insured losses from the fires in Bastrop County, Texas, the hardest hit, could cost the industry $150 million alone.
“This is our first estimate of the total insured losses, and the number could vary as more information come in,” says Hanna.
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