Nationwide's Tornado Loss Put At $25.7 Million

Nationwide's Tornado Loss Put At $25.7 Million

NU Online News Service, May 8, 4:01 p.m. EDT?Nationwide Insurance, Columbus, Ohio, said it estimates its insured policyholder losses from the tornadoes that blasted seven Southeastern states could be more than $25.7 million

The Columbus, Ohio-based company said the $25.7 million figure included $18 million in homeowners claims, $7.4 million in auto claims and $250,000 in commercial claims.

Nationwide, ranked as the country's seventh-largest property-casualty insurer, said it estimates more than 10,790 claims for May 2-5 severe weather, including tornadoes, hail and wind storms that swept through Tennessee, Kentucky, Mississippi, Arkansas, North Carolina, South Carolina and Alabama.

The damage was caused by one of "the worst weather-related storms that we have experienced in this region," according to Ken Enscoe, Nationwide's director of catastrophe claims operations.

"We activated the Nationwide National Catastrophe Team early Monday to bring more claims representatives to the areas hardest hit by the storm," Mr. Enscoe said.

The Nationwide claims force will work seven days a week, he said, as agents assist with the claims reporting process. "We hope to have all claims closed in a few weeks," Mr. Enscoe said.

The company projects 3,316 Tennessee claims totaling $15.2 million; 4,900 North Carolina claims for an estimated $6.3 million; and more claims in Kentucky, Mississippi, Arkansas, South Carolina and Alabama. In Jackson, Tenn., alone there are 20 total loss claims.

The Insurance Information Institute said the total insured loss for all carriers would be about $325 million.

Nationwide Insurance is the seventh-largest property and casualty insurance company in the United States based on premiums written. It is the fourth-largest homeowners insurer and the fifth-largest auto insurer.