Tornadoes ripped through several parts of Missouri in May, including the capitol city. A Missouri Department of Insurance press release says the agency contacted insurance carriers in the state to determine the number of claims filed, related to the tornado damage, and the dollar amounts of the settlements of those claims.
According to the data submitted by the reporting insurance companies, insured losses are expected to be more than $139 million.
The department says across the industry and types of insurance, it appears that more than 60% of claims have been closed, with nearly 70% of residential property claims closed.
“I want to thank the Missouri insurance industry for their immediate response to the needs of the consumers in our state following the tornado events in May,” says Chlora Lindley-Myers, Director of the Department of Insurance, Financial Institutions and Professional Registration. “Their immediate actions have played a crucial role in helping those affected recover from their losses and resume their lives.”
The following data reflects losses through 6-30-2019:
|Type of Insurance||Claims Reported||Losses Paid|
|All Other Lines||126||$1,368,996|