Monday, May 9, 2011

Alabama tornado damage could approach record $2 billion

Damage from Alabama's deadly tornadoes could approach the state's record of $2 billion from Hurricane Ivan in 2004, Alabama's insurance commissioner said Wednesday.

Insurance commissioner Jim Ridling said early insurance industry estimates put the damage across the South at $2 billion to $5 billion. He said Alabama's numbers won't be available for a few days, but he expects the numbers to exceed the $1 billion in damage to insured property during Hurricane Katrina in 2004 and approach the $2 billion in damage to insured property during Ivan a year earlier.

"I've never seen anything this violent and this widespread," he said during a news conference with the governor and executives from five large insurance companies.

Of course, our government will give $2 billion to Pakistan, but not to Alabama.

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