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Wreckage of the Plaza Towers Elementary School in Moore, Okla., on Tuesday, May 21, 2013. (AP Photo/Sue Ogrocki, Pool)

Oklahoma Insurance Commissioner John Doak said that the tornado that struck Oklahoma on Monday, now updated to EF-5 strength, may exceed the $3 billion in damage incurred by the Joplin, Missouri tornado in 2011 that killed 161 people, according to a Reuters report.

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