{"id":1118890,"date":"2021-12-14T17:14:35","date_gmt":"2021-12-14T22:14:35","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1118890"},"modified":"2021-12-14T17:14:40","modified_gmt":"2021-12-14T22:14:40","slug":"tornado-damage-may-cost-insurers-up-to-5-billion-as-americans-rebuild-their-lives","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tornado-damage-may-cost-insurers-up-to-5-billion-as-americans-rebuild-their-lives\/","title":{"rendered":"Tornado Damage May Cost Insurers Up To $5 Billion As Americans Rebuild Their Lives"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftornado-damage-may-cost-insurers-up-to-5-billion-as-americans-rebuild-their-lives%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1118890&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The tornadoes that swept several states may cost insurance companies up to $5 billion.<\/p>\n<p>Over the weekend, at least 30 tornadoes were <a href=\"https:\/\/www.dailywire.com\/news\/death-toll-rises-after-severe-tornado-storms-devastation-unlike-anything-i-have-ever-seen-in-my-life\">reported<\/a> throughout Arkansas, Illinois, Kentucky, Mississippi, Missouri, and Tennessee. The largest tornado that struck the region tore through over 200 miles of Kentucky. As of Tuesday, 74 people have been <a href=\"https:\/\/www.dailywire.com\/news\/over-100-people-unaccounted-for-in-kentucky-following-devastating-tornadoes\">confirmed<\/a> dead and more than 100 remain unaccounted for.<\/p>\n<p>As residents begin to rebuild their lives, insurance companies anticipate hefty payouts. <a href=\"https:\/\/www.reuters.com\/markets\/commodities\/deadly-us-tornadoes-cost-insurers-about-3-bln-kcc-2021-12-14\/\">Reuters<\/a> reported:<\/p>\n<p>Catastrophe modeling firm Karen Clark &amp; Company said it expects insured losses of about $3 billion from tornadoes that tore a 200-mile path through the six states in the U.S. Midwest and South, demolishing homes, leveling businesses and setting off a scramble to find survivors beneath the rubble\u2026<\/p>\n<p>Credit rating agency Fitch said insured losses could rise to $5 billion, rivaling the U.S. Midwest derecho event in August last year, but less than Winter Storm Uri and Hurricane Ida, both of which saw losses of $15 billion and $40 billion respectively.<\/p>\n<p>Reuters added that insurers \u2014 invoking the argument that severe weather events are linked to climate change \u2014 will likely begin pushing for higher prices next year:<\/p>\n<p>This will add to reinsurers\u2019 push for rate hikes at the January 2022 pricing renewals and beyond as they absorb losses from another unusual weather event and react to concerns about the negative impact from climate change, Fitch said.<\/p>\n<p>In the wake of the storms, <a href=\"https:\/\/www.dailywire.com\/news\/exclusive-footage-kentucky-tornado-survivor-says-first-thing-we-thought-of-was-helping-people\">The Daily Wire<\/a> conducted several exclusive interviews with residents.&nbsp;<\/p>\n<p>One man from Mayfield, Kentucky, shared his horrific experience \u2014 which involved him possibly saving his neighbor\u2019s life by waking him up as the twister was only blocks away. The man explained that he was first alerted by a nearby tornado siren and that he immediately \u201cstarted getting mattresses out.\u201d He moved them toward a centrally-located closet where he could wait out the storm because he figured it was&nbsp; \u201cbetter safe than sorry.\u201d<\/p>\n<p>\u201cAnd then, I went out on the front porch because I\u2019ve personally never seen a tornado, and next thing you know it got real calm,\u201d he told The Daily Wire. \u201cThen I heard something like a freight train.\u201d<\/p>\n<p>\u201cThen all the power went out,\u201d he continued, adding that \u201cthe tornado looked blue from the electricity\u201d and \u201cit was probably about two streets\u201d away. However, he realized that his neighbor was not awake as the tornado was about to strike his house: \u201cSo you know, I bust his door down, tell him to \u2018Get up! Tornado\u2019s coming!\u2019 He jumps in the shower, and we run over here. We get up in the closet and pull mattresses over us. The whole house starts shaking, you hear things breaking.\u201d<\/p>\n<p>\u201cI was just praying the whole time,\u201d he said. \u201cIt happened so fast and then it was calm. Everybody got out, made sure everybody was okay, and the first thing you know that we thought of was getting out and helping people.\u201d<\/p>\n<p>In another interview with <a href=\"https:\/\/www.dailywire.com\/news\/exclusive-residents-on-kentucky-tornado-damage-footage-ive-never-seen-destruction-like-this-in-my-life\">The Daily Wire<\/a>, one woman said: \u201cI\u2019ve lived in the area since 1973. And I had a friend here last night that \u2014 I knew the tornado was touching down \u2014 and she lived in a mobile home and I begged her to get out of the mobile home \u2014 and she got into a building here that was owned by her boss and the building collapsed, but she is okay.\u201d<\/p>\n<p>\u201cThank God for that,\u201d she continued, \u201cand I\u2019ve never in my life seen destruction like this \u2014 never.\u201d<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tornadoes that swept several states may cost insurance companies up to $5 billion.Over the weekend, at least 30 tornadoes were reported throughout Arkansas, Illinois, Kentucky, Mississippi, Missouri, and Tennessee. The largest tornado that struck the region tore through over 200 miles of Kentucky. As of Tuesday, 74 people have been confirmed dead and more than 100 remain unaccounted for.As residents begin to rebuild their lives, insurance companies anticipate hefty payouts. Reuters reported:Catastrophe modeling firm Karen Clark &#038; Company said it expects insured losses of about $3 billion from tornadoes that tore a 200-mile path through the six states in the U.S. Midwest and South, demolishing homes, leveling businesses and setting off a scramble to find survivors beneath the rubble\u2026Credit rating agency Fitch said insured losses could rise to $5 billion, rivaling the U.S. Midwest derecho event in August last year, but less than Winter Storm Uri and Hurricane Ida, both of which saw losses of $15 billion and $40 billion respectively.Reuters added that insurers \u2014 invoking the argument that severe weather events are linked to climate change \u2014 will likely begin pushing for higher prices next year:This will add to reinsurers\u2019 push for rate hikes at the January 2022 pricing renewals and beyond as they absorb losses from another unusual weather event and react to concerns about the negative impact from climate change, Fitch said.In the wake of the storms, The Daily Wire conducted several exclusive interviews with residents.\u00a0One man from Mayfield, Kentucky, shared his horrific experience \u2014 which involved him possibly saving his neighbor\u2019s life by waking him up as the twister was only blocks away. The man explained that he was first alerted by a nearby tornado siren and that he immediately \u201cstarted getting mattresses out.\u201d He moved them toward a centrally-located closet where he could wait out the storm because he figured it was\u00a0 \u201cbetter safe than sorry.\u201d\u201cAnd then, I went out on the front porch because I\u2019ve personally never seen a tornado, and next thing you know it got real calm,\u201d he told The Daily Wire. \u201cThen I heard something like a freight train.\u201d\u201cThen all the power went out,\u201d he continued, adding that \u201cthe tornado looked blue from the electricity\u201d and \u201cit was probably about two streets\u201d away. However, he realized that his neighbor was not awake as the tornado was about to strike his house: \u201cSo you know, I bust his door down, tell him to \u2018Get up! Tornado\u2019s coming!\u2019 He jumps in the shower, and we run over here. We get up in the closet and pull mattresses over us. The whole house starts shaking, you hear things breaking.\u201d\u201cI was just praying the whole time,\u201d he said. \u201cIt happened so fast and then it was calm. Everybody got out, made sure everybody was okay, and the first thing you know that we thought of was getting out and helping people.\u201dIn another interview with The Daily Wire, one woman said: \u201cI\u2019ve lived in the area since 1973. And I had a friend here last night that \u2014 I knew the tornado was touching down \u2014 and she lived in a mobile home and I begged her to get out of the mobile home \u2014 and she got into a building here that was owned by her boss and the building collapsed, but she is okay.\u201d\u201cThank God for that,\u201d she continued, \u201cand I\u2019ve never in my life seen destruction like this \u2014 never.\u201dThe Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":99,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1118890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1118890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1118890"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1118890\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1118890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1118890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1118890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}