Midwest tornado losses-$1 Billion March 14, 2012

“In the aftermath of last week’s devastating tornadoes, independent agents and carriers are working to handle volumes of claims for those affected by the storms in the Midwest and South.
Two forceful storm systems swept through the regions, spawning a series of twisters that destroyed communities and left dozens reported dead. Some of the hardest-hit states include Illinois, Indiana and Kentucky. Ind_Tornado_Main-Street.jpg

While the amount of insured damage from the storms on Feb. 28 to 29 and March 2 to 3 is still being tallied, catastrophe modeler EQECAT pegged its initial estimate of insured losses at $1 billion to $2 billion.

On March 2 alone, there were 107 tornadoes—the most for the year so far, according to the National Weather Service.
Already, 2012 has an above-average start for catastrophes. The number of tornadoes so far this year—272—is more than twice the seven-year average of 123 for the same time period, according to EQECAT.”

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