Tornado Price Tag Will Swell: Print Preview
As the cleanup continues in Oklahoma, the latest insurance claims filed following the tornado outbreak at the end of May offers another glimpse of just how destructive the storms were.
According to the Oklahoma Insurance Department, as of June 11, 60,308 claims had been filed with payments surpassing the $470 million mark. The agency said calls to its consumer assistance division have also risen 59% since the May 20 tornado in Moore, Okla. Approximately 40 requests for assistance forms have gone out each day since the destructive storm killed more than 24 people and leveled homes and other properties.
As of press time, CUNA Mutual Group was not able to provide a hard number on claims filed. Losses are spread across multiple coverage plans, which can make it difficult to pinpoint an exact figure, said Phil Tschudy, media relations manager for CUNA Mutual.
In a case like the Tinker FCU branch in Moore, which was reduced to rubble except for the vault, assessing a financial loss is a quicker process, said Mike Retelle, CUNA Mutual Group claims manager and disaster team leader. More than 6,000 credit unions have property and casualty coverage with the company. While flood damages fall under federal guidelines, CUNA Mutual can assist policyholders with the processing of those claims.