Cotality estimates that the recent Central Texas flash floods caused $1.1 billion in damage to residential buildings, with the National Flood Insurance Program providing as much as $135 million in insurance recoveries to home and business owners across the impacted counties.
The Central Texas flash floods over the July 4 weekend caused roughly $1.1 billion in damage to residential buildings. Yet, the impact of the floods will likely have a limited effect on primary insurers and reinsurers.
Related: FEMA Chief Calls Texas Floods Response ‘A Model’ For Dealing With Disaster
Food insurance penetration in the