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| Contact: | Cliston Brown |
| Phone: | (847) 553-3671 |
| Email: | cliston.brown@pciaa.net |
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| FOR RELEASE ON RECEIPT | |
| April 18, 2013 | |
| PCI Issues Statement on West, Texas Explosion | |
AUSTIN?Joe Woods, vice president, state government relations for the Property Casualty Insurers Association of America (PCI), today issued the following statement in response to the explosion in West, Texas.
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"Our thoughts and prayers are with all of those impacted by the tragic event that occurred last night in West. Insurers are committed to helping the families and business owners that have been affected and will be there to support the recovery every step of the way.
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"Insurance claims from this type of event are likely to be covered by life, health, or property casualty insurance. The location of the incident remains in active search and rescue mode, so it is still too early know the full insurance implications of this event. However, insurers will be working closely with their policyholders to assess the damage and process claims as soon as they have access to the area.
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"Generally, the people injured in this incident are likely to file claims with their life insurer or their health insurer. Injured workers or workers in the businesses nearby may be covered under workers compensation insurance.
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"Based on what we know at this point, there appears to be extensive property damage to homes, businesses and automobiles. Building owners may have property insurance to cover their damage and loss of rental income. They may also have business interruption coverage for lost income.
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"We cannot discuss the specifics of individual policies as they vary by company. Policyholders should talk with their insurance company, agent or claims adjuster to determine the details of their policy."
PCI is composed of more than 1,000 member companies, representing the broadest cross-section of insurers of any national trade association. PCI members write over $190 billion in annual premium, 40 percent of the nation?s property casualty insurance. Member companies write 46 percent of the U.S. automobile insurance market, 32 percent of the homeowners market, 38 percent of the commercial property and liability market, and 41 percent of the private workers compensation market.
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