Bloomberg "Anywhere" Remote Login Bloomberg "Terminal" Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Tornadoes Led by Oklahoma to Cost Up to $5 Billion, Eqecat Says

May 24 (Bloomberg) -- Tornadoes that struck the U.S. from May 18 to May 20, including one that devastated a suburb of Oklahoma City, probably cost insurers between $2 billion and $5 billion, according to catastrophe risk modeler Eqecat.

During the three-day period, 76 tornadoes touched down in states including Kansas, Nebraska, Missouri, Iowa and Illinois, the modeler said late yesterday in a statement, citing National Weather Service data.

A tornado with winds more than 200 miles (322 kilometers) per hour leveled homes and killed at least 24 people in Moore, Oklahoma, a town of about 55,000, on May 20. Insurers including Allstate Corp. and State Farm Mutual Automobile Insurance Co. have dispatched staff to the area to help customers file claims.

“The tornadoes over the period 18-20 May have damaged thousands of buildings, many of them completely destroyed,” Eqecat said in the statement. “The Moore, Oklahoma. tornado alone has caused damage to approximately 13,000 structures and is where the bulk of the losses are expected.”

To contact the reporter on this story: Noah Buhayar in New York at nbuhayar@bloomberg.net.

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.