Insurance payout from tornado to be largest in state history

The payout by insurance companies for covered losses in Joplin will make the May 22 tornado the largest insurance event in Missouri history. As of June 30, insurance companies had paid more than $509 million in claims for residential, personal and commercial property damage, according to the Missouri Department of Insurance. The department is projecting that claims ultimately will total between $1.5 billion and $2 billion.