Okla. tornado may have caused $3.5B in insured losses, modeler says

05/28/2013 | PropertyCasualty360

Insured losses from the tornado that hit Moore, Okla., could fall between $2 billion and $3.5 billion, according to Risk Management Solutions. The figures include damage to personal, commercial and industrial properties but not damaged vehicles, the catastrophe-risk modeler said. About 95% of the damaged structures were residential properties, said Matthew Nielsen of Risk Management Solutions. "This is further proof that you can have direct hits over highly populated areas," he said.

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