P/C insurers receive more claims related to Okla. tornadoes

06/12/2013 | ClaimsJournal.com

Property/casualty insurers in Oklahoma continue to receive claims for damage caused by tornadoes. The insured-loss estimate of $250 million so far is likely to be a "drop in the bucket" compared with the final total of claims, said state Insurance Commissioner John Doak, adding that "there will eventually be a bell curve [in claims being received], but we haven't reached it yet." P/C insurers can settle all claims because the industry "is rock solid, financially," said Robert Hartwig, president of the Insurance Information Institute. "[Insurers] are very experienced at events that cluster like this," Hartwig said.

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