W.Va. insurance premiums stable after 2012 derecho
CHARLESTON, W.Va. (AP) — State data shows West Virginia property owners in general didn’t see a huge uptick in insurance premiums after making claims from last summer’s massive windstorm.
Figures compiled by the state Insurance Commissioner’s office show nearly 36,700 insurance claims were filed in the month after the June 29, 2012 storm.
The Charleston Daily Mail reports property owners received $87 million in insurance payments.
Former state Insurance Commissioner Jane Cline, now a lobbyist, analyzed the derecho claim data.
She says it hasn’t shown any significant increase in companies terminating homeowner coverage following the storm.
She also says insurance rates have remained relatively stable. Most post-storm increases were in the 3 percent range.
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