NEWYORK, April 24, 1998 — Three recent days of violent weather, including floods, wind, hail and a severe tornado in downtown Nashville, Tenn., caused an estimated $200 million in insured property losses in five south-central states, according to Insurance Services Office, Inc.'s Property Claim Services unit.
The storms and tornado took place between April 15-17 in Arkansas, Missouri, Illinois, Tennessee and Kentucky. ISO's PCS estimates 80,000 claims have been filed to date.
Insured losses in Tennessee, which includes property damage caused by the tornadoes in Nashville and nearby areas, totaled an estimated $145 million. This is the most significant urban tornado loss in many years.
Broken down by lines of business, personal property losses in the three-day catastrophe totaled $135.7 million; commercial property, $60.2 million; and auto, $4.1 million.
For the business of insurance, a catastrophe is an event, such as an earthquake, hurricane, tornado, ice storm or windstorm that causes insured property losses totaling $25 million or more.
ISO's PCS loss estimates do not include losses incurred by the National Flood Insurance Program. The estimates do not include loss adjustment expenses.
Insurance Services Office, Inc. (ISO) provides information about property/casualty insurance, including statistical information, actuarial analyses, policy language and related services to more than 2,900 insurers and reinsurers, agents, brokers, risk managers and others in the insurance marketplace.