January 30, 2012
By: Jana Bell
Following the strong storm systems which have set off tornadoes in several southwestern states this month, the Insurance Information Institute says that it appears the severe weather which characterized 2011 has continued.
At least two people were killed and dozens of home insurance claims have been filed following the string of recent tornadoes. The III says that followed a year in which insurers working in Alabama paid out roughly $3.2 billion in home and business insurance claims. That trend of heavy losses was seen nationwide.
"The natural catastrophes that struck the United States in 2011 generated more than $35 billion in direct insured losses, the fifth most expensive year on record," said economist Dr. Robert Hartwig, president of III.
The group says a total of 99 disaster declarations were issued last year. The old record, set just one year earlier, had been 81.
Across the country, the National Oceanic and Atmospheric Administration says there were a total of 14 disasters last year which caused more than $1 billion in damage. That shattered the previous record of just nine.
Related Home Insurance Articles:
- NOAA predicts near-normal Eastern Pacific hurricane season May 25, 2012
- Safety officials call attention to home sprinkler system regulations May 24, 2012
- Thousands of St. Louis insurance claims cite recent hail damage May 22, 2012
- Tropical Storm Alberto changes course away from Carolinas May 21, 2012
- California tops the nation in dog bite claims May 17, 2012
