AIR: US May storms to cost $4bn-$7bn
The severe thunderstorms that wrought destruction across many states in the US between 20-27 May will cost insurers between $4bn and $7bn, catastrophe-modelling agency AIR Worldwide has estimated.
The figure includes claims relating to residential, commercial and industrial properties and their contents as well as automobiles.
The US has been hit by a particularly severe series of tornadoes in the last two months, with the most recent outbreak including the devastating twister that tore through Joplin, Missouri on 22 May,...
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