Insured losses due to tornadoes in excess of $1 billion


OKLAHOMA CITY, OK — Estimated insured losses resulting from a series of devastating storms in Oklahoma are at least $1 billion, with some estimates reaching as high as $5 billion, according to Business Insurance.

"I think we're looking at something in the $1billion-plus range. It could be $2 billion; we don't know. I think a wild card here is how much the commercial losses are and, then, ultimately what business interruption losses are," said Insurance Information Institute President Robert Hartwig.

The tornado in Moore, Oklahoma, caused 24 fatalities and damaged about 13,000 structures, where the bulk of the losses are expected, with many homes in Moore were reduced to rubble with winds scattering debris over a very wide area, the article stated.

According to the article, while it is expected that there will be business interruption claims in Moore, it is difficult to assess how much that will be at this point.

Click here to read the article in its entirety.

Cleanfax Staff

Cleanfax provides cleaning and restoration professionals with information designed to help them manage and grow their businesses.

Follow Cleanfax Staff

Related Posts

Share This Article

Join Our Newsletter

Expert Videos

Popular Content

slow economy

5 Marketing Strategies for Carpet Cleaning Businesses in a Potential ‘Slow Economy (the “R” word)’

link building

The Power of Link Building for Your Cleaning Company’s Success

Cleanfax March/April 2023 digital

Cleanfax March/April 2023 Digital Edition Online Now

Leadership Tip passion over experience

Leadership Tips: Passion Over Experience 

Leadership Tip buyer persona

Leadership Tips: Developing a Buyer Persona


Have you ever been at fault for ruining something and then had to pay to replace it, such as a room of carpet or hard floor, an area rug, or piece of furniture?

View Results

Loading ... Loading ...

Upcoming Events

February 21, 2023

Simply Irresistible: How To Create Marketing Messages To Find New Customers