US “Ring of fire” insured losses to reach $2.5bn
The damage resulting from the "ring of fire" weather system that impacted the US from May 11 to 16 is expected to result in $2.5 billion in property and motor insurance claims, according to a report by Karen Clark & Company (KCC).
The storms affected many states east of the Rocky Mountains, with the most damage in the Midwest, Northeast, and Mid-Atlantic.
According to the report, most of the storm activity was along an arc from Texas to Kansas, through the Ohio Valley to the Mid-Atlantic states, a setup meteorologists refer to as a “ring of fire”.
KCC estimates that 12 states, including Colorado, Connecticut, Illinois, Indiana, Iowa, Kansas, Maryland, Michigan, New York, Ohio, Pennsylvania, and Virginia, will likely see insured losses in excess of $100 million.
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