RMS tornado loss estimate News

The Nov. 17 tornadoes in the Midwest could become the insurance industry’s first billion-dollar severe weather event to occur in November, according to catastrophe modeling firm RMS. According to Matthew Nielsen, RMS director and meteorologist, last Sunday’s outbreak is another …

The tornado that leveled an Oklahoma City suburb last week probably cost insurers $2 billion to $3.5 billion in claims, according to catastrophe modeler Risk Management Solutions Inc. The estimate includes damage to personal, commercial and industrial property as well …