Oklahoma tornado losses could top $2 billion
It's still early for realistic estimates, but it's clear that Monday's deadly storm will be among the most expensive since Joplin's in 2011.
Oklahoma Insurance Commissioner John Doak told Reuters that losses from Monday's storm likely will exceed the more than $2 billion in damage caused by the 2011 Joplin, Mo., twister that left 161 dead. More precise figures may not be known for several weeks as insurance companies survey the damage from the storm, which ripped through the Sooner State on Monday, packing winds topping 200 mph.
As The Associated Press noted, the twister delivered a punch that was likely many times more powerful than the atom bomb that destroyed Hiroshima in 1945.
The disaster was the deadliest storm of its kind since 2011 tornado that ravaged Joplin and the surrounding area. That storm and others pounded 20 states between May 20 and May 27, causing an estimated $6.9 billion in damage. Also in 2011, tornadoes in Tuscaloosa, Ala., cost $7.5 billion in insured losses.
"Insured losses from tornadoes/thunderstorms were over $25 billion in 2011, more than double the previous record," according to the Insurance Information Institute, making them the costliest type of natural disaster that year. They caused $97.8 billion in insured losses between 1990 and 2009.
Scientists aren't sure whether global warming will cause more or fewer twisters, according to The Associated Press. Until Monday, the 2013 tornado season had started off quietly.
Follow Jonathan Berr on Twitter @jdberr.
Some towns STILL don't have money.
Remember Dear Leader "Promised" to fix everything and soon ?
ALL FIXED NOW , MORON
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The stock market ended the Thursday session on a mixed note ahead of Friday's nonfarm payrolls report for February (Briefing.com consensus 163K). The Dow Jones Industrial Average (+0.4%) and S&P 500 (+0.2%) posted modest gains while the Nasdaq Composite (-0.1%) lagged throughout the session.
Equities began the trading day on an upbeat note following comments from the Bank of England and the European Central Bank, both of which reaffirmed their commitment to ... More
More Market News
Consumers are very status conscious in Asia, Africa and other emerging-market areas. This is especially true in China.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'