A.M. Best special report: tornado losses approach those of hurricanes

If the first quarter is any indicator of likely tornado activity for 2008, insurers may be headed for another long season of increased claims activity and high catastrophe losses. The number of tornadoes in first quarter 2008 surpassed the previous four-year average, but an even more troubling trend for the industry has emerged: Losses of $1 billion and higher from single events are becoming more frequent, approaching losses from hurricanes.