Group: Texas plant blast loss likely exceeds $100M

POSTED: 2:04 PM Apr 25 2013   UPDATED: 3:23 PM Apr 24 2013
West, Texas explosion
WEST, Texas (AP) -

An insurance industry trade group estimates losses from a deadly fertilizer plant explosion in a tiny Texas town will likely exceed $100 million.

Insurance Council of Texas spokesman Mark Hanna said Wednesday that insured losses after the explosion in West, Texas, included dozens of damaged homes, businesses and cars - as well as the costs of resettling displaced residents.

Last week's explosion at West Fertilizer Co. left a crater 90 feet wide and totaled nearby homes and buildings.

The homes closest to the plant have been kept off-limits as officials investigate the blast.

Hanna said he believes as many as 140 homes were destroyed, based on conversations with numerous insurance agents and adjusters.