4/4/2013 - Report predicts tornadoes to be more destructive
Nearly six months removed from Hurricane Sandy, one of the most devastating storms to affect the U.S. mainland, there is still a considerable number of press reports detailing the fallout and how homeowners have coped after the superstorm.
But the release of a recent report out of London notes that as devastating as hurricanes can be, tornadoes can be just as ruinous, if not more so.
The report, "Tornadoes: A Rising Risk?," was produced by Lloyd's of London and goes into great detail regarding the damage totals and fatalities that result from twisters. For example, it's estimated that approximately 1,200 people each year lose their lives after their homes are affected by a tornado, leading to an estimated $400 million in property insurance losses.
One of the most active years for tornado activity was 2011. Lloyd's of London points out that more than 1,600 tornadoes were reported to area authorities, resulting in $25 billion in damages.
While Midwestern states are the locations in which tornadoes occur most frequently, they have been known to transpire in virtually every corner of the country. The report reveals that since 1950, at least one tornado has touched down in each state. And when they do happen, they're usually between April and June, which climatologists say is traditionally the height of hurricane season.
The report also provides a variety of predictions about tornado prevalence in the coming years and their potential for causing destruction. Lloyd's of London indicates that with more once rural localities becoming urbanized, twisters that once only affected sparse land areas now have the potential to bring damage to a greater swath of homeowners and business owners.
Lloyd's of London has made the report publicly available, which consumers can read more about by clicking here.
According to the Insurance Information Institute, approximately 1,000 tornadoes are reported each year nationwide, causing area forecasters to issue watches and warnings.