Insurance companies must reconsider the handling of tornado policies

The tornado season is already off to a destructive and deadly start this year, leading insurance companies  are taking another look at the way that they handle and underwrite for the areas in the United States that have the highest risk of these devastating and recurring events. What this may mean, is that homeowners could discover that they are paying rates that are significantly higher than they have in the past, or that they may not be able to find any coverage at all, as insurance companies work to reduce their…

Read More

2012 tornado season could be as active as the now notorious 2011

Last year, the U.S. was subject to an unnaturally active tornado season. The season spawned outbreaks of violent windstorms and powerful tornados that cut a path of destruction through much of the mid and mid-eastern states. Last year saw a total of 1,709 tornadoes touched down in the U.S. While this is well short of the 1,817 that formed in 2004, these tornados were far more destructive and widespread. Indeed, 2011 was one of the most disastrous years in recent history, so much such that the insurance industry was hoping…

Read More