Weather Costs Insurance Companies Massive Losses In Iowa And Arkansas
Violent weather across the US has caused huge losses for many home insurance companies. Many have pulled out of some states because of the problem. The most visible example is probably Florida, which has been pounded by hurricanes that have destroyed thousands of homes. According to weather forecasts, these storms will become more powerful.
News On Violent Weather –Category 5 Hurricanes
According to a New York Times analysis of insurance company losses, those in Iowa and Arkansas have been experiencing more than a year of red ink. Tornados recently caused severe damage to part of Iowa, and hail storms have also hit Iowa. Thunderstorms recently damaged part of Arkansas. Tens of thousands of people were without electricity.
Insurance Costs In Mid-America
The insurance problems in the state in the middle of the country are less well covered than those in the Gulf states and on the Atlantic seaboard. They tend to cover much smaller areas but can be just as destructive. They also often happen with little warning, which will not help in most cases.
The home insurance industry in the US is changing rapidly, just as the presence of violent storms has.
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