The catastrophic floods in central Texas on July 4 occurred in an area where fewer than 3% of homeowners have flood insurance through the National Flood Insurance Program, serving as another example of why Texas has one of the highest risk profiles of any state, an analysis by the Insurance Information Institute shows.
The Triple-I’s analysis, Texas: A Complex Mix of Risks, finds that the Lone Star State faces a unique combination of natural catastrophe risks, driven by severe convective storms, lightning and hail damage, wildfire risk, grid vulnerability and flooding.
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