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Insured Losses From Rare November Tornadoes to Top $1 Billion

The rare tornado event across the Midwest that caused about 81 twisters, including two EF-4 (166-200 mph) storms in Illinois, could cause total insured losses of more than $1 billion...
December 6, 2013

The rare tornado event across the Midwest that caused about 81 twisters, including two EF-4 (166-200 mph) storms in Illinois, could cause total insured losses of more than $1 billion. The increasing number of tornadoes with billion-dollar losses is another reason insurers and reinsurers are more focused on non-coastal weather events and why there is now a bigger push for tornado resilience in both residential and commercial structures. “Building codes are minimum standards,” said Tanya Brown, a research engineer at the Insurance Institute for Business and Home Safety’s (IBHS’s) Research Center in Richburg, South Carolina.

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