Filed Under:Agent Broker, Agency Management

Late Feb. Tornado Losses Pegged at $1-$2B

The first estimate for the insured losses from the deadly tornadoes that ravaged the Midwest at the end of Feb. says the storms could generate as much as $2 billion in claims. 

Catastrophe modeler EQECAT says the severe weather that formed two volatile weather systems during the period from Feb. 28 to March 3 produced an estimated $1-$2 billion in insured losses. The weather events included tornadoes, hail, and strong winds over an area that covered 12 states, from the Deep South to as far north as Ohio and Illinois, according to National Weather Service (NWS) maps. Most of the more than 150 tornadoes, a preliminary count, occurred in the states of Tennessee, Kentucky, Indiana, Illinois, and Alabama, reports EQECAT.

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