Alabama sees tornado insured losses exceeding $2B

Insured losses from last week’s devastating tornadoes in Alabama are expected to exceed the $2 billion in losses inflicted on the state by Hurricane Ivan in 2004, a state official said Wednesday. "This is the worst disaster dollar-wise. Ivan was a lot different but this is more difficult," Alabama Insurance Commissioner Jim Ridling said at a news conference after meeting executives from leading insurance companies who are assessing the damage to the state.