JEFFERSON CITY, Mo. - Insurance payouts from the tornado in Joplin on May 22 have now exceeded $1 billion, according to the Missouri Department of Insurance. Home, auto and commercial insurers have reported their preliminary claims and payment numbers as of Sept. 1, which are as follows:
"Joplin's recovery requires a solid public-private partnership, and the insurance industry is clearly leading the private sector efforts," said John Huff, director of the Missouri Department of Insurance. "One billion dollars paid in just over three months - roughly $10 million a day - marks a significant reinvestment in the Joplin community."
Huff expects payments from the tornado will approach $2 billion once all insurance claims are settled. He also encourages consumers to contact the Department of Insurance if they need assistance with their claims.
For consumers and businesses still facing challenges with insurance claims and rebuilding issues, the Department of Insurance is hosting a Recovery Roundup on Sept. 24 at Missouri Southern State University in Joplin. In addition to regulators from the department, insurance company representatives will be on hand, along with experts to assist with home and car loan questions, credit counseling, city building requirements and more.
Consumers with questions or complaints can contact the department at insurance.mo.gov or call the Insurance Consumer Hotline at 800-726-7390.