Midwest Tornadoes Could Be Costliest In U.S. History As Loss Estimates Reach 5 Billion
As of Monday the death toll from the storms was approaching 90. And while it’s still unclear how much property and financial damage the storms have wrought, insurance industry experts it could reach into the billions, and may prove the most expensive tornado event in recorded U.S. history. Credit rating agency Fitch has estimated that insured losses from damage cost by the tornado outbreaks could hit $5 billion, and catastrophe modeling firm Karen Clark & Company predicts insured losses of $3 billion, Reuters reported on Tuesday....