Losses from Oklahoma's May storms likely to top $1 billion

Insurance companies will pay out about $595 million to cover losses from tornadoes that swept through central Oklahoma last month. And that total is expected to grow.

BY DON MECOY | Modified: June 3, 2010 at 6:21 am | Published: June 3, 2010

Insurance companies likely will pay out more than $1 billion to cover damage from last month's back-to-back storms that spawned tornadoes and large hail, industry representatives said Wednesday.

photo - A salvage diver moves into position to recover boats and debris at Lake Thunderbird on Wednesday, May 12, 2010, in Norman, Okla., from the storms that hit the area Monday. (AP Photo/The Oklahoman, Steve Sisney)

A salvage diver moves into position to recover boats and debris at Lake Thunderbird on Wednesday, May 12, 2010, in Norman, Okla., from the storms that hit the area Monday. (AP Photo/The Oklahoman, Steve Sisney)

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Know It: Severe Weather

The May 10 storms bearing hail and tornadoes that swept through central Oklahoma will cost insurance companies about $595 million, according to an estimate by ISO's Property Claim Services...
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