May 2019 Tornadoes in Missouri Caused Nearly $190M in Insured Losses

July 10, 2020

The May 2019 tornadoes that ravaged several parts of Missouri caused significant damage to both residential and commercial properties, and resulted in close to $190 million in insured losses, the state Department of Commerce and Insurance reported.

The department has been tracking the number of claims filed in the state, related to the tornado damage, and the dollar amounts of the settlements of those claims.

Although early estimates were predicted to reach at least $139 million, the final data submitted by the reporting insurance companies indicates the insured losses reached nearly $190 million.

Most tornado claims were closed by June of this year, including 98 percent of homeowners claims and 99 percent of personal auto claims.

A higher percentage of commercial property claims, which are often far more complex than personal claims, remained open.

The following data reflects the losses through June of 2020. This was considered the last scheduled filing and the final numbers related to that event.

Line of Business Clms Reported Closed W/ Pmt Closed w/out Pmt Losses Paid Losses Incurred % Closed % Closed Without Pmt
Residential Property 3,780 2,759 947 $57,071,451 $58,871,827 98.0% 25.6%
Commercial Property 785 522 152 $63,845,128 $89,268,628 85.9% 22.6%
Business Interruption 58 40 9 $4,327,627 $5,247,653 84.5% 18.4%
Personal Auto 1,338 1,162 163 $8,271,432 $9,202,142 99.0% 12.3%
Commercial Auto 161 109 30 $18,127,216 $18,249,557 86.3% 21.6%
All Other Lines 340 197 73 $8,252,644 $8,796,829 79.4% 27.0%
Totals 6,462 4,789 1,374 $159,895,498 $189,636,636 95.4% 22.3%

Source: Missouri Department of Commerce and Insurance

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