Mutual insurance companies subject to new regulations in Missouri

Joplin Tornado Damage Statistics

Insurance changes come in the wake of Joplin tornado On May 22, 2011, a powerful tornado struck the town of Joplin, Missouri. The tornado was classified as an EF5 and was a catastrophic event that decimated much of the town. The tornado had caused $2.8 billion in damages to property and vehicles and claimed 158 lives. In the wake of the disaster, it was expected that the state would make revisions to its insurance regulations in an attempt to prevent fraud and protect consumers from the exploitation that ran rampant…

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