The insurance industry will pay an estimated $550 million in claims to people whose property was damaged by a series of tornadoes, wind and hail that struck Arkansas and the Midwest in April, according to the Insurance Information Institute.
"Claims are likely to involve damage to homes, apartments, businesses and automobiles," said Loretta Worters, director of public relations for the New York-based Institute. "The greatest amount of damage will probably be in Arkansas, with losses expected to be around $250 million."
