Insurers respond to deadly tornado wave

Multiple states in the US have been hit by a series of deadly tornadoes over the last couple of days, leaving behind widespread damage to homes, businesses, and vehicles.

In response, insurers are acting as “financial first responders,” according to Sean Kevelighan, CEO of the Insurance Information Institute (Triple-I), helping policyholders receive the necessary assistance they need to start the recovery process.

“The widespread damage the US experienced in the past few days due to extreme tornado activity highlighted the importance of being financially protected from catastrophic losses by having the right types, and amounts, of insurance,” Kevelighan said.

According to Triple-I, the damage caused by tornadoes is covered under standard homeowners, renters, and business insurance policies, as well as the optional comprehensive portion of an auto insurance policy.

A separate statement from the American Property Casualty Insurance Association (APCIA) also noted that many standard homeowners’ and renters’ policies provide reimbursement of additional living expenses when the property is determined to be uninhabitable due to a covered loss.