May tornadoes in Missouri caused at least $139 million in insured losses, and insurance companies have been busy dealing with the aftermath.
The Missouri Department of Insurance, Financial Institutions and Professional Registration on Wednesday said in a news release that just more than 60% of claims made in the wake of tornadoes that ravaged the state have been closed. Nearly 70% of those involving residential properties have been taken care of.
Tornado Insurance Statistics
|Insurance Type||Claims Reported||Losses paid|
|Residential property||2,901||$29.3 million|
|Commercial property||517||$16.4 million|
|Personal auto||1,212||$5.8 million|
|All others||126||$1.4 million|
The department collected its data from insurance carriers across Missouri. Its director, Chlora Lindley-Myers, thanked them for responding quickly to residents' and business owners' needs.
"Their immediate actions have played a crucial role in helping those affected recover from their losses and resume their lives," she said.