Insurance companies are continuing to make payments to policyholders who suffered damage from large severe weather events earlier this year. Officials in Missouri have now named the tornado that ripped through Joplin’s center earlier in 2011 as the most expensive insurance event in the history of the state. It has been estimated that insurers have already spent approximately $1.13 billion on claims related to this occurrence, and that when all claims have been made and paid out, that number will have grown to almost $1.9 billion. According to John Huff…
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Grants from FEMA may help to fill insurance gaps
The Federal Emergency Management Agency (FEMA) and disaster officials are continuing to request that people who have been affected by the results of Hurricane Irene to contact FEMA and register with them, even if they are already receiving payments from their insurance companies to help cover the damages. The issue that is concerning disaster and recovery officials right now is that many people are under the impression that the money they receive from their insurance companies is all that is available to them in terms of recovery aid when this…
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