An outbreak of severe weather in the U.S. Southeast means many claim adjusters are on their way to the area to begin estimating the damages. Guy Carpenter's Instrat unit, which provides updates on major catastrophes that are likely to incur a significant loss to the insurance industry, summarized the disaster in a report released late last week:

At least 17 people were killed and a number of homes and businesses were damaged after powerful storms, including up to 30 tornadoes, swept through the southeastern U.S. yesterday, according to reports. The U.S. Storm Prediction Center had earlier issued a rare "major severe weather outbreak" warning for the region. The states of Alabama, Georgia and Missouri were badly hit by the severe weather, prompting officials to declare states of emergency. Tens of thousands of homes and businesses lost power at the height of the storm. The severe weather killed nine people in Georgia, seven in Alabama, and one in Missouri.

The burst of tornadoes was part of a larger line of thunderstorms and snowstorms that stretched nearly 1,000 miles from Minnesota to the Gulf Coast. Authorities in southeastern Alabama said the severe weather spawned a tornado that ripped through a school building in the town of Enterprise, killing at least five students.