Insured losses from the swarm of tornadoes and severe convective storms that caused destruction in parts of the country this month could amount up to $5 billion, industry experts said on Tuesday.
Catastrophe modeling firm Karen Clark & Company said it expects insured losses of about $3 billion from tornadoes that tore a 200-mile path through the six states in the U.S. Midwest and South, demolishing homes, leveling businesses, and setting off a scramble to find survivors beneath the rubble.
