Two storm cells struck the USA between 28 February and 3 March
Tornadoes which devastated parts of the USA last week are expected to cost insurers $1bn to $2bn, according to initial estimates.
Catastrophe modelling firm EQECAT has reported the losses stem from more 150 tornadoes striking the Midwest and southern USA, with most losses occurring in Tennessee, Kentucky, Indiana, Illinois, and Alabama.
The early start to the tornado season caused “significant” damage to commercial and residential buildings.
Tornado activity for the year is well above average with 272 tornadoes versus the seven-year average of 123. Tornadoes have been cited as the cause for 49 deaths year-to-date.
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