Insurance industry could face losses of $5 billion from storms

tornado insurance Oklahoma

American insurers may be facing a growing number of severe weather issues such as tornadoes. According to the disaster modeling company, Eqecat, the United States insurance industry could find that the insured losses from severe storms and tornadoes that occurred last week may come with a bill of $5 billion. The estimate from the firm falls within a range of $2 billion to $5 billion, with most linked to the Moore tornado. Though this is still quite early after the Moore, Oklahoma tornado from May 20, for the insurance industry…

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