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Sat Apr 13, 2013, 03:21 PM

Insurance: Derecho’s dollar cost doubled

Those powerful storms that struck Ohio last summer turned out to be much more costly than first thought.

New Ohio Insurance Institute numbers estimate the insured losses at $845 million from the derecho that struck on June 29 and a second line of severe storms that hit two days later. Initial estimates had pegged the total at about half that amount.

The new figure makes those summer storms the third-costliest insurance disaster on record in the state, and total insured losses in all of 2012 trailed only those of 2008, when remnants of Hurricane Ike barreled through the state. Last year’s losses include $292 million in damage from superstorm Sandy, which struck the East Coast and then moved west into Ohio.

The increasingly powerful and costly storms that have hit Ohio in recent years also are taking a hit on homeowners’ wallets.
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http://www.dispatch.com/content/stories/business/2013/04/13/derechos-dollar-cost-doubled.html

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