Joplin Leads Storms That May Cost $7 Billion in One Week
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Insurers may face U.S. storm claims of as much as $7 billion from a single week last month, led by costs from the tornado that struck Joplin, Missouri, modeling firm AIR Worldwide said.
Insured losses to homes, businesses and cars in the week ended May 27 will probably be $4 billion to $7 billion, the Boston-based firm said in an e-mailed statement today. More than 500 people have been killed from tornadoes this year, including at least 130 in Joplin.