To experience firsthand how the insurance industry is responding to the tornado that took out a large swath of Joplin, Mo. on May 22the EF5s path through the city was nearly a mile wide and about 7 miles longwe embedded on June 7...
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Last week, I had the opportunity to spend a day in Joplin, Mo., with members of the State Farm team—witnessing the company’s concerted response to the devastating tornado that ripped through the city, leaving more than 140 dead and 1,000 injured (see my Reporter’s Notebook on page 6).
To experience firsthand how the insurance industry is responding to the tornado that took out a large swath of Joplin, Mo. on May 22, I “embedded” on June 7 with State Farm Insurance, meeting with a local agent, two catastrophe claims representatives and an auto-lines specialist.
As of June 1, major insurance companies in the Joplin area have received nearly 17,000 claims from the tornado that ripped through the area last month.
Thunderstorms in the U.S. that struck from May 20 to May 27 are expected to cause between $4 billion and $7 billion in insured losses, according to catastrophe modeler AIR Worldwide.