Insured losses from May tornadoes could reach $7 billion, AIR says

06/6/2011 | PropertyCasualty360

P/C insurers are poised to lose as much as $7 billion from the storms and tornadoes that ravaged many parts of the country last month, according to AIR Worldwide. The estimate includes damage to residential properties and business-interruption losses but excludes "non-modeled losses, including loss-adjustment expenses," the firm said.

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