AIR predicts US storm losses

Insured losses from the tornadoes that devastated the US south last month are likely to reach between $3.7bn (£2.3bn) and $5.5bn, risk modelling consultancy AIR Worldwide said yesterday. The windstorms have killed an estimated 354 people to date in seven US states. The loss will be predominantly from destruction of both residential and commercial property, industrial buildings and cars, AIR said.