Insured Loss for Midwest’s Rare November Tornadoes Could Top $1B: RMS

The Nov. 17 tornadoes in the Midwest could become the insurance industry’s first billion-dollar severe weather event to occur in November, according to catastrophe modeling firm RMS. According to Matthew Nielsen, RMS director and meteorologist, last Sunday’s outbreak is another anomalous occurrence of the unusual 2013 severe weather season, with the top three outbreaks this year occurring outside the usual spring/summer peak period. Instead, they occurred in 2013 in November (81, based on preliminary reports), January (62), and October (42).RMS said the Nov. 17 storm outbreak will likely rank as one of the top five most significant November outbreaks since 1950.