More Than 100 Insurers Pursue Subrogation Over Winter Storm Uri Losses
More than 100 insurance companies are suing the Texas power grid operator and dozens of power generators, over losses and property damage sustained during the winter storm last February.
The lawsuit, filed in Travis County District Court, said the Electric Reliability Council of Texas (ERCOT) and 37 different power generating entities were ‘at fault’ for the energy failure and power loss that left millions of Texans in the cold and dark for days.
It alleges gross negligence when these defendants ‘failed to plan and prepare for the winter storm event, and the energy failure caused significant property damage to the policyholders of plaintiffs.’
According to the latest report from the Texas Department of Insurance, insurers indicated they had 500,196 insurance claims.
More than 85% of these claims came from residential property owners and homeowners. Commercial properties made up just under 10% of those claims.