Insurance companies take hit after Oklahoma tornadoes

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by Ellen Braitman / Texas Bloomberg Report

Texas Bloomberg Report

Posted on May 22, 2013 at 6:17 AM

Updated Wednesday, May 22 at 7:49 AM

Home prices in the Dallas-Fort Worth area are rising more than the national average. Zillow says they were up one percent in April, compared to March, which was twice the national average. And Dallas-area prices compared to a year ago are also up more than the national average, gaining 6.4 percent compared to April 2012. Zillow, though, says homeowners should get ready for price gains to slow.

As for the markets, stocks rose Tuesday, giving the Dow and S&P new highs. But many insurance companies took a hit on concerns about costs they'll have because of this week's devastating tornadoes. A spokesman for State Farm says Monday's tragedy in Oklahoma mirrors the tornado that struck Joplin, Missouri two years ago, which was the costliest tornado ever.

Apple CEO Tim Cook mentioned Texas during an appearance before a congressional hearing Tuesday while talking up the company's work in the U.S., including the campus it's building in Austin.

And two Texas restaurants have made OpenTable's list of top 100 dining spots for eating outdoors: Café Malaga in McKinney and Woodshed Smokehouse in Fort Worth. The list was based on customer reviews. 

 

 

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