Budget Briefing: Insurance Tab from Hail and Wind Damage Could be $400M

In the news this morning:

Oklahoma’s Hail and Wind Damage Could Cost Insurers $400 Million – “Last week’s storms caused an estimated $400 million in insured property damage, an insurance industry group estimated, although a major provider said Monday that the hail and high winds were not a catastrophic event.” NewsOK.com

Lawmakers, Governor Move Funds to Endowed Chairs Program – “A fund created six years ago to support research by high-technology companies was gutted by the Oklahoma Legislature this year and its proceeds sent to the state’s endowed chairs program. Yet even with those new funds, Oklahoma’s endowed chairs program is still more than $100 million behind in funding.” Journal Record

Electric Bills Shrinking With Low Natural Gas Prices – What’s good for OG&E is good for AEP-PSO: “The average customer that uses 1,000 kilowatt hours of electricity in a month will see their bills drop to $85.88 from $97.98 a year ago.” Tulsa World

American Indian Museum in Oklahoma City Hits Roadblock, Regroups – A $40 bond issue was defeated and matching funds are in question. “The leader of efforts to build an American Indian museum along the Oklahoma River is trying to raise $20 million within a month to breathe life into the project.” NewsOK.com