Insurers Sue ERCOT to Recoup Costs From $10 Billion Winter Storm --
To date, there have been more than 500,000 claims across the state.
"The scale of the loss here was huge. It was massive. That would be the situation for the insurance companies to take the massive legal action they've taken,” said Ware. "If they paid a deductible to repair, replace or fix anything, any damage done to their house, they may get that. Depending on the settlement, they may get a portion of that or all of that deductible back. So, this is a positive for insurance customers and the citizens of Texas,” said Communications Director Rich Johnson.Last week, it announced its generators were ready for winter weather after completing on-site winterization inspections now that the state requires facilities to prepare.
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