Oklahoma tornado insurance payments top $1 billion
Updated On: Aug 07 2013 08:26:39 AM CDT
More than $1 billion has been paid out so far in insurance claims filed after a series of deadly tornadoes swept through central Oklahoma in May.
Oklahoma Insurance Commissioner John Doak said that number is expected to climb as more claims are processed and filed.
According to the The Oklahoman, residents have filed nearly 91,000 insurance claims since May 19 - a day before an EF5 tornado struck Moore, causing massive damage and killing 25 people.
Moore Mayor Glenn Lewis said many businesses are awaiting final insurance settlements before beginning the rebuilding process. Lewis said more than 80 building permits have been filed in Moore since May 20.
The Insurance Information Institute said insurance payments from the EF5 tornado that struck Joplin, Mo., in 2011 totaled more than $2.2 billion.
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