Mt. Vernon Register-News

Community News Network

February 11, 2014

Oklahoma leads U.S. in 2013 disaster costs

Oklahoma was the nation's costliest state for natural-disaster claims last year as tornadoes spurred payouts.

Oklahoma had $2 billion in insured catastrophe expenses, followed by Texas at $1.51 billion, the Insurance Information Institute said Tuesday. No. 3 Colorado, with $907 million in losses, was hit by wildfires.

Natural disasters cost insurers about $12.8 billion in 2013, the least since 2009, according to the institute. Losses were $35 billion the previous year, when Superstorm Sandy struck the East Coast. New York had the highest costs in 2012, with $9.76 billion, followed by New Jersey at $6.37 billion.

"Hurricanes like 2012's Sandy generate headlines, even though it is the frequency and severity of tornadoes that has grown in recent years," Robert Hartwig, president of the Insurance Information Institute, said in a statement.

All 10 of the costliest tornadoes in the U.S. occurred since 2001, led by twisters in 2011 that struck Tuscaloosa, Ala., and Joplin, Mo.

Texas is the only state to be among the five costliest for insurers in the each of the past three years. The state ranked No. 3 in 2012 and first in 2011. Texas, which borders the Gulf of Mexico, is also more vulnerable to hurricanes than most states in the "Tornado Alley" region. Hurricane Ike struck Galveston in 2008.

From 1983 to 2012 Texas had $49 billion in costs, or about 10 percent of the total in the country. That ranks behind only Florida, which had $66.7 billion in losses, according to the institute. Florida is the fourth-most populous state, trailing New York, Texas and California.

Florida wasn't among the top five in 2013 costs. The lower- than-average damage from East Cost storms benefited companies including Allstate, the largest publicly traded U.S. home and auto insurer. Allstate gained 36 percent last year in New York trading.

1
Text Only
Community News Network
  • 072214 Diamond Llama 1.jpg Llama on the loose corralled in Missouri town

    A llama on the lam cruised Main Street Tuesday before it mistook a resident’s fenced backyard for a place to grab a meal and freshen up.

    July 22, 2014 2 Photos

  • Screen Shot 2014-07-22 at 2.00.42 PM.png VIDEO: Train collides with semi truck carrying lighter fluid

    A truck driver from Washington is fortunate to be alive after driving his semi onto a set of tracks near Somerset, Ky., and being struck by a locomotive, which ignited his load of charcoal lighter fluid.

    July 22, 2014 1 Photo

  • mama.jpg What we get wrong about millennials living at home

    If the media is to be believed, America is facing a major crisis. "Kids," some age 25, 26, or even 30 years old, are living out of their childhood bedrooms and basements at alarmingly high numbers. The hand-wringing overlooks one problem: It's all overblown.

    July 22, 2014 1 Photo

  • Malaysians wonder 'Why us?' after second loss of airline jet

    It was all too familiar. Grieving families rushing to airport. The flashing television graphics of a plane's last radar appearance. The uncomfortable officials before a heavy thicket of microphones.
    For many Malaysians, the disappearance of Flight 370 in March has been a long trauma from which the nation has not yet recovered.

    July 18, 2014

  • The terrible history of passenger planes getting shot out of the sky

    What is more clear is that, if initial reports are true, this would be the deadliest incident of a civilian passenger plane being shot down in modern memory. In some instances, the causes of the disaster are still shrouded in mystery. Here are some of the worst events.

    July 17, 2014

  • 130408_NT_BEA_good kids We're raising a generation of timid kids

    A week ago, a woman was charged with leaving her child in the car while she went into a store. Her 11-year-old child. This week, a woman was arrested for allowing her 9-year-old daughter to go to the park alone. Which raises just one question: America, what the heck is wrong with you?

    July 17, 2014 1 Photo

  • Screen Shot 2014-07-16 at 2.12.33 PM.png Gunshots narrowly miss TV reporter

    A reporter for a West Virginia television station narrowly escaped injury or worse Monday while covering a fatal weekend shooting in Beckley.

    July 16, 2014 1 Photo

  • 25 hidden secrets in "Weird Al's" "Word Crimes" video

    Yankovic's 14th album was released this week, and it warms my heart containers that he's kept up his geeky brand of humor for so long. While he has written so many incredible songs, none have spoken to my love of proper grammar.
    Until "Word Crimes."

    July 16, 2014

  • State lawmakers tweak gun regulations

    Obtaining a concealed carry weapons license within the Commonwealth of Kentucky is not a simple task.

    July 16, 2014

  • When your doctor commits suicide, things get complicated

    When they call for appointments, patients are told they can't see their doctor. Ever. The standard line: "We are sorry, but your doctor died suddenly."

    July 15, 2014

Twitter Updates
Facebook
Stocks