Homeowners insurance faces another powerful blow from natural disasters Oklahoma City, Oklahoma, fell victim to a powerful tornado earlier this week. The tornado had been classified as an EF4 at the time it reached the city on May 20. The tornado boasted of more than 200 mile per hour winds and cut a path of destruction through the city and its surrounding area, claiming the lives of 24 people. State officials are now declaring the event an official disaster, which may be of some benefit to the homeowners insurance sector…
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Massive EF-5 Tornado Causes Destruction in Moore, Oklahoma
BOSTON, May 21, 2013 – According to catastrophe modeling firm AIR Worldwide, at 3:01 p.m. on Monday, May 20, 2013, a massive tornado struck Moore, Oklahoma, a suburb of Oklahoma City, destroying many homes, businesses, and public buildings, including two elementary schools and a hospital. According to reports and aerial images, property damage in the affected region is extensive, with whole neighborhoods heavily damaged or destroyed. “A slow-moving upper level low pressure system triggered a series of severe thunderstorm outbreaks across the Central Plains starting on May 19,” said Dr.…
Read MoreMassive tornado bodes ill for homeowners insurance in Oklahoma and Kansas
Homeowners insurance claims teams deployed to states affected by disaster What is being called the worst tornado disaster in world history has caused havoc in Oklahoma and Kansas this week. A powerful tornado has touched down in Oklahoma, causing significant damage in Oklahoma City. Initial reports suggest that the tornado demolished an elementary school in one part of the city before moving on an causing more damage to surrounding properties. Farmers Insurance is one among several companies that have deployed claims teams to help manage the impact of the disaster…
Read MoreMagnitude 5.6 Earthquake, Largest Ever in State’s History, Strikes Oklahoma: AIR
BOSTON, Nov. 7, 2011 – According to catastrophe modeling firm AIR Worldwide, on Saturday evening at 10:53 pm local time, Oklahoma experienced the strongest earthquake ever recorded in the state. With a magnitude of 5.6 and a focal depth of just three miles below the surface, the earthquake was centered about 44 miles east of Oklahoma City, the state’s capital and largest city (population 580,000 in 2010). A foreshock of M4.7 had struck 21 hours earlier. Together with numerous aftershocks, residents of Oklahoma were subjected to nearly two dozen earthquakes…
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