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The thunderstorms in the U.S. that struck from May 20 to May 27 may have caused between $4 billion and $7 billion in insured losses, according to catastrophe modeler AIR Worldwide.

AIR says the losses reflect insured physical damage to residential, commercial, and industrial properties, including to structures and contents, automobiles, additional living expenses (ALE) for residential claims, business interruption (BI) claims, and the effects of demand surge. The estimate does not reflect “non-modeled losses, including loss-adjustment expenses,” the cat modeler added.



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