The aftermath of last week’s devastating tornado is very high according to reports. Independent agents and carriers are working to handle volumes of claims for those affected by the storms in the Midwest and South. Two forceful storm systems swept through the regions, spawning a series of twisters that destroyed communities and left dozens reported dead. Some of the hardest-hit states include Illinois, Indiana and Kentucky.
While the amount of insured damage from the storms on Feb. 28 to 29 and March 2 to 3 is still being tallied, catastrophe modeler EQECAT pegged its initial estimate of insured losses at $1 billion to $2 billion.
(Ref: IA Magazine) Read more...
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