Insured losses from Missouri’s May tornadoes expected to reach at least $139 million

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JEFF CITY TORNADO 2_1558605318464.jfif.jpg

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 InsuranceClaims ReportedLosses Paid
Residential Property2,901$29,312,127
Commercial Property517$16,397,508
Business Interruption33$319,117
Personal Auto1,212$5,795,629
Commercial Auto102$602,544
All Other Lines126$1,368,996
Totals4,891$53,795,921

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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