Dallas Hailstorm Insured Losses Could Reach $2 Billion

Insured losses from the massive hailstorm that struck the Dallas area on Wednesday could reach as much as $2 billion, making it one of the most costly storms of its type in U.S. history, an insurance organization said on Friday. The Southwestern Insurance Information Service (SIIS), a trade group that speaks for property insurers in Texas and Oklahoma, said members have already classified the storm as catastrophic. The storms were the worst in the area in at least nine years, the National Weather Service said this week.