Insured Losses from Bastrop, Texas, Wildfire Rise to $325M

Bastrop (Texas) complex forest fire that occurred on Labor Day weekend, more than half of homeowner insurance claims are settled. The final tally of insured losses from wildfires 1673 destruction of houses is estimated to hit $ 325 million.

Two people on fire just east of Bastrop 71 acres of pine forest on both sides of U.S. consumption of thousands died. Many houses were literally untouched, while next door, houses were burned to the ground. The heat is so intense that the foundations of houses burst was exposed to rock and steel rods. Most of Homeowners already pay for the loss of your home.

Most homeowners that their personal property, the flames and still trying to remember what was lost and went into a record.

"The insurance industry was handing out the day after a fire Czech homeowners who lost everything," said Mark Hanna, a spokesman for the Insurance Council of Texas.

Bastrop fire, forest fires was the costliest in Texas history and 2011 insured losses at $ 500 million with the costliest year for forest fires has become. The costliest year 2009, with $ 115 million in insured losses was.

Hanna said that insurance companies paid the money to the policyholder's economic impact on the area.

"Bastrop community is a huge financial injection as homeowners to settle their claims and in turn rebuild and look to pump money into the local economy. Hannah said that banks, contractors, realtors, motels, restaurants, and construction workers all stand to benefit in the massive recovery process. "

As insurance agents and adjusters are finalizing plans to transfer to work with homeowners, are released. All of forest fires this year in Texas, Texas Department of Insurance homeowners who run into problems with their insurance companies, only 11 complaints have been justified.

Article Source:- http://www.insurancejournal.com/news/southcentral/2011/12/08/226681.htm