A City of Austin worker surveys a recently mended water pipe after it froze in Austin, Texas, on Feb. 18, 2021. (Photo: Thomas Ryan Allison/Bloomberg)
(Bloomberg) — Crippled by a winter storm, Texas and other states are becoming a hotbed of insurance claims, with analysts expecting a hefty bill for losses.
Insured losses could hit $18 billion for the winter weather, six times the yearly average, according to Karen Clark, whose firm models catastrophes. In Texas, one of the worst-affected regions, State Farm Mutual Automobile Insurance Co. has already seen as many claims because of frozen pipes in that state as it had across the U.S. all of last year, according to a spokesman for the state's biggest home insurer. USAA said it's received more than 20,000 claims tied to the weather, and the Insurance Council of Texas said it expects hundreds of thousands of claims from vehicles, homes, businesses and renters.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
