‘Major Tornado Outbreak’ in Midwest Adding to Insurance Losses

A “major tornado outbreak” brewing across nine states in the central U.S. is adding to insured losses that may already have reached $6.5 billion this season, according to an industry group.

Tornadoes and thunderstorms have caused at least $3 billion in insured losses and perhaps more than double that, said Robert Hartwig, president and economist at the Insurance Information Institute in New York.