Just five weeks after the tornado, insurance companies serving consumers in the Joplin, Mo., area had paid more than $509 million in claims for residential, personal and commercial property damaged by the EF-5 tornado that struck the area on May 22. Missouri Insurance Director John Huff said the claims amount could grow to three to four times the amount already paid. The insurance department expects around 17,000 total insurance claims.
The following table shows preliminary claims/payments reported to Missouri insurance regulators as of early July.
| Type | Claims | Payments Made | Claims Expected |
|---|---|---|---|
| Homeowners | 7,006 | $311,688,578 | 8,005 |
| Auto (Private) | 5,846 | $34,217,440 | 6,554 |
| Commercial Property | 1,533 | $157,829,641 | 1,754 |
| Commercial Auto | 260 | $1,846,773 | 268 |
| Other | 265 | $3,506,346 | 391 |
| Totals | 14,910 | $509,088,778 | 16,972 |
The insurance department said it has maintained close oversight of insurers’ activities in Joplin since the tornado, and Huff commended the insurance industry’s response to the tornado.
Topics Claims
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