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Insurance payouts from derecho total more than $1.6 billion

November 9, 2020 GMT

DES MOINES, Iowa (AP) — Iowa insurance companies have paid more than $1.6 billion for claims arising from a rare wind storm, known as a derecho, that blew through the state in August, the Iowa Insurance Division said Monday.

Insurance companies received more than 200,000 derecho-related claims as of Nov. 2. The companies are holding more than $1 billion in reserve to pay remaining claims, Iowa Insurance Commissioner Doug Ommen said in a news release.

A derecho with wind gusts up to 140 mph destroyed or extensively damaged thousands of homes and millions of acres of corn and soybeans across the middle of the state on Aug. 10.

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Ommen encouraged property owners to work diligently with their insurance agents to obtain necessary repairs, noting that early snow and shortages of some materials and contractors have already caused some challenges in getting repairs completed.

Out the thousands of claims that have been made, the insurance division has received just 90 complaints about handling of claim, Ommen said.