Insured losses from the swarm of tornadoes and severe convective storms that caused destruction in parts of the country this month could amount up to $5 billion, industry experts said on Tuesday. Catastrophe modeling firm Karen Clark & 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. The barrage of tornadoes killed at least 74 people in Kentucky, officials said on Monday. 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. Fitch said it was unusual to have this type of weather-driven event …
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