AIA Committed to Tornado Recovery

Gov. Marc Racicot, president of the American Insurance Association, commented Monday on the devastating tornadoes that ravaged parts of Missouri, Oklahoma and Georgia over the weekend and reassured policy holders that the insurance industry is committed to helping them recover from the storms. The deadly storms have claimed at least 23 lives to date.

“This spring we have witnessed a number of intense storms and Mother’s Day weekend was no exception,” said Racicot. “Few measures can provide any consolation to the victims of these tornadoes, but the insurance industry vows to do its part by assisting the residents in picking up the pieces. We are fully committed to helping policyholders recover their property and rebuild their lives.”

Late Saturday and into Sunday, insurance companies and emergency crews were on the scene helping those in need while at the same time assessing the damage from the storms. It is still too early to estimate the total damage caused by the tornadoes.

U.S. catastrophe losses from tornadoes alone totaled almost $1 billion ($955 million) in the first quarter, according to the Insurance Services Office.

The three states have already issued emergency declarations, and the federal government has pledged emergency assistance.

AIA commended the efforts of Governors Blunt (MO), Henry (OK), and Perdue (GA) as well as the Insurance Commissioners in the affected states.

“The leadership shown by these individuals in the face of adversity is an indication of the resiliency of the people they represent,” noted Racicot.