A warm, sunny May afternoon in Oklahoma City last year turned suddenly destructive. A large, supercell thunderstorm had quickly developed, producing softball-sized hail, winds exceeding 60 mph and hail drifts several feet deep. In what may have been the most violent and expensive hail storm in Oklahoma City history, five people were killed, and an estimated 10,000 cars and thousands of homes were damaged by the freak storm.
For auto insurers, unexpected disasters such as this lead to a rush of claims and the need to spring into action to help take care of their policyholders. This means a large number of cars will have to be repaired or recovered and sold at auctions, in order to limit the claims costs.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access