P/C insurers to face hefty losses from Okla. tornado, expert says

Property/casualty insurers have recorded the largest losses from thunderstorms and related events during the past five years, Insurance Information Institute President Robert Hartwig says. "When we look at long-term trends, it does appear that the weather is getting worse," Hartwig said. Insurance adjusters are in Moore, Okla., to assess the damage caused by Monday's tornado, and property losses could amount to "hundreds of millions of dollars, no question," Hartwig said. "Could it surpass the billion-dollar threshold? Yes, it could. It's not uncommon for these events to occur in this day and age."

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