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Oklahoma tornado damage tops $595 million dollars

Insurance companies will pay out some $595 million to cover losses from tornadoes that swept through central Oklahoma last month. And that total is expected to grow.
By Don Mecoy - Business Writer Modified: June 2, 2010 at 3:03 pm •  Published: June 2, 2010
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The May 10 storms that spawned hail and tornadoes that swept through central Oklahoma will cost insurance companies about $595 million, an industry group estimated today.

Those losses, estimated by the Insurance Services Office, Property Claim Service, include $475 million in personal property, $40 million in commercial losses and $80 million in vehicle damage, said Jerry Johns, president of Texas-based Southwestern Insurance Information Service.

The damage estimate does not include losses involving many publicly owned properties and utilities that are often self-insured, or flood damage insured through the National Flood Insurance Program, Johns said.

The total also doesn't include the damage caused by storms that dumped large hail on the metro area a couple of days later.

The May 10 storms delivered "an amazing amount of damage," Johns said. "The hailstorm is going to be an amazing amount of damage as well."

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