ProgramBusiness
 
  


Loading LiveCycle Banners.
  1. News Articles
  2. Related News Articles
  3. Comments
News Article Details

RMS: Insured Losses from Tornado-Hit South Could Reach $6 Billion

Back | A- | A+
 Email This     Print     Subscribe


Posted on 17 May 2011

Risk Management Solutions (RMS) estimates damages from the powerful tornadoes that hit the South in late April caused insured losses of up to $6 billion, the highest figure yet to emerge from disaster-modelers.

A single tornado that struck Tuscaloosa and Birmingham in Alabama accounts for nearly 40% of the estimate said. RMS. The total insured losses from the violent weather that affected several states from April 25 to 28 will range from $3.5 billion to $6 billion.

An estimate last Monday from rival modeler AIR Worlwide put the number at $3.7 billion to $5.5 billion, but included storms from a wider range of dates—April 22 to 28.

On Thursday, Allstate Corp. warned investors it had about $1.4 billion in catastrophe losses for all of April. The second quarter, which ends June 30, is already slated to be Allstate's costliest period for disaster claims since 2008.


Comments

Post a Comment
If you are a Storefront / Tradingfloor user, click here to login.
Note: As a guest user, please fill out the form below to post a comment.
Post your comments here.
Name :
Email Address :
Captcha :
Comments :
Character left : 2000