Free Preview - WSJ.com: "Catastrophes Make A Comeback: The Year Of The $1B Tornado
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Following a two-year respite from major hurricane damage, costly weather-related catastrophes are back, courtesy of a new entrant: the $1 billion tornado.
According to the Insurance Services Office, in the first quarter, nine catastrophes caused insured losses of $3.35 billion. The biggest event was a string of tornadoes and severe weather in February that caused $995 million in insured losses.
Losses from a single tornado in March, which drove through Atlanta, could also top $1 billion, once losses are tallied, said one insurance executive.
The first-quarter signals a new level of losses from tornadoes, which are land-based storms. Insurers, already ..."
Wednesday, April 30, 2008
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