Insurance payments top $1B for May tornadoes in Oklahoma

Insurance payments from the spate of tornadoes that struck Central Oklahoma in May have topped $1 billion — and the claims process still is ongoing for many property owners in the state. “$1 billion is a big number, and we expect that to climb,” Oklahoma Insurance Commissioner John Doak said. “Many consumers have yet to begin the rebuilding process and insurers have not totally closed many claims yet.” Oklahomans have filed nearly 91,000 insurance claims since May 19, according to the Oklahoma Insurance Department.
Included in the $1 billion are many payments from insurers for temporary living expenses. What is not included are the final insurance settlements that many property owners are waiting to receive, Doak said. The rebuilding process in Moore after the May 20 tornado is slow but ongoing, Mayor Glenn Lewis said.