Trade Group Estimates West Insured Losses At $100 Million
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WEST (CBSDFW.COM) – Insurance experts are estimating that damage caused by the fertilizer plant explosion in West could have losses topping $100 million.
“That [estimate] is looking at everything that’s affected; looking at all of the homes, which that number continues to rise. It looks at the schools, the retirement center, the apartment complex [and] the downtown area,” said Mark Hanna, a spokesman for the Insurance Council of Texas.
According to the ICT, the number of homes believed destroyed had initially been estimated at 75, but has climbed to 140.
Reported damage ranges from complete destruction to minor interior damage. An adjuster reported the circumstance of one policyholder who said cans of food inside her home had exploded, but that the house had no broken windows.
Hanna said the estimated insured losses also include the costs of resettling displaced residents. “This is a small community, we’re talking 2,700 people. Just nearly everybody in that community was affected by this blast.”
In addition to the insured losses, there are dozens of residents who were impacted by the blast, but have no insurance. ICT officials say the number of uninsured people who are seeking assistance “is high.” So far, the American Red Cross has met with some 180 families who have been seeking housing and financial assistance.
The April 17th blast at the West Fertilizer Company left a crater that is 10 feet deep and 93 feet wide.
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