A report issued last week by the Kansas Department of Insurance estimates that insured property losses from a devastating tornado on May 4, 2007, will top more than $153 million.
The storm, which was reportedly a mile-wide across its base, killed 10 people and leveled the small town of Greensburg, Kan., which only had a population of 1,500 people. The town is located in south-central section of the state.
According to Kansas Insurance Commissioner Sandy Praeger, 33 insurers representing approximately 85 percent of the top volume writers of the property insurance market in Kansas have already paid $82 million of insured property losses. Praeger also reported that 80 percent of affected policyholders received emergency funds within seven days of the storm, and only one official complaint has been reported out of the 1,900 claims made so far.
“The insurance industry has been exemplary in their response to the devastation in Greensburg,” said Praeger. “There were insurance company adjusters on their way as early as 8:00 a.m. on Saturday, the day after the tornado.”
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