News from Wall Street Journal:

By ERIK HOLM

Insured losses from the tornadoes and severe storms that struck a large swath of the U.S. this week could reach $ 5 billion, according to the disaster-modeling company Eqecat.

The firm’s estimate of insured losses ranges from $ 2 billion to $ 5 billion, with the bulk of the cost tied to the deadly tornado that struck Moore, Okla., on May 20. It also includes damage from May 18 and May 19. During the three-day span, tornadoes also struck Kansas, Illinois, Colorado, and Texas.

Damage estimates from Eqecat and other disaster-modeling companies are closely tracked by the insurance industry for the early indication they can provide about the financial impact of major catastrophes on insurance-company capital. The estimate indicates that this week’s string of tornadoes will be among the most costly in recent memory, but insurers a……….. continues on Wall Street Journal.

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