Insured losses from U.S. tornadoes could reach $5 billion: Eqecat

Insured property losses from the April 2011 outbreak of tornadoes in the southern United States are expected to be in the range of between $2 billion and $5 billion, according to Eqecat. Initial reports show the upwards of 10,000 buildings destroyed, the cat modeler reports. More than 350 reported tornado landfalls occurred between Apr. 17 and Apr. 27, the deadliest making landfall on April 27. Significant damage happened between Tuscaloosa and Birmingham, Alabama. Some tornado tracks were reported to be nearly a mile wide and tens of miles long. The National Weather Service (NWS) has since surveyed the event and has made a preliminary “EF-5” rating – the highest rating – on the Enhanced Fujita Scale in connection with a tornado that hit Hackleburg, Alabama, according to AIR Worldwide. Citing NWS, AccuWeather.com is reporting that a second EF-5 tornado hit Smithville, Mississippi on the same day. It’s the first time since 1990 that two EF-5 tornados have touched down on the same day, according to AccuWeather.com.Most of the destroyed homes were well built, less than 10 years old, and bolted down to their foundations, according to AIR, again citing the NWS. “The 2011 Tornado Season has just begun and it is already setting many records,” Eqecat reports. “The US National Weather Service report of cumulative tornado activity compared to historical activity shows that this year’s is about 30% higher than the historic recorded maximum.”