TEXAS FLOOD HITS INSURERS WITH $25 MILLION IN CLAIMSPosted On: Aug. 30, 1998 12:00 AM CST
DEL RIO, Texas -- Insurers are facing at least $25 million in claims from flooding related to Tropical Storm Charley.
The Property Claims Services unit of the Insurance Services Office Inc. has assigned a catastrophe number to the flooding, meaning damages are expected to reach at least that amount.
Del Rio, Texas, was hard hit by the flooding that pushed the Rio Grande River and San Felipe Creek out of their banks. Heavy rains from Charley drenched the area as the storm came ashore Aug. 22.
Flooding destroyed hundreds of homes and businesses in the Del Rio area.
The Federal Emergency Management Agency, which administers the National Flood Insurance Program, said 109 flood policies representing $9.3 million in coverage are in force in Del Rio. Another six policies written in unincorporated Val Verde County amount to $307,000 in coverage.
A FEMA spokesman said claim amounts for the NFIP had not been totaled. Those claim amounts are separate from the PCS projection of $25 million.