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April 30, 2011
Please pray for the lost lives!
Billions of dollars lost in US South from tornados
India Gazette
Saturday 30th April, 2011
• President Obama promises federal support for affected communities
• Initial costs from property damage alone at US $2 billion to US $5 billion
• Over 10,000 homes destroyed, including many schools
With recovery efforts now underway across the US South following days of deadly tornados, the horrifying toll of destruction has been estimated to cost as much as US $5 billion.
More than 300 people have been killed in Mississippi, Tennessee, Arkansas, Georgia, Virginia and Louisiana with entire neighbourhoods flattened across the South. Several schools were also destroyed and officials have confirmed that, among the 339 dead, there are many children.
“It is heartbreaking,” said President Obama of the devastation. He said that, while those who’d been killed were “alongside God at this point”, the damage to communities was something the government could rectify.
“The property damage, which is obviously extensive, that's something we can do something about,” said the president.
Catastrophe risk modelling company EQECAT, speaking to the Associated Press, said the cost of the recovery would be in the billions.
“With initial reports of buildings destroyed approaching 10,000, property insurance losses are expected to range from $2 to $5 billion,” said EQECAT. Their estimates don’t take into account the wider loss of production to the local economy in the disaster-hit areas.
Many of the tornados that touched down over the last few days were a mile wide and travelled for over one hundred miles, according to the risk modelling company.
“Tornado activity in April is putting 2011 into the record books,” the statement added.
source: http://story.indiagazette.com/index...ns-of-dollars-lost-in-US-South-from-tornados/
Please pray for the lost lives!
Billions of dollars lost in US South from tornados
India Gazette
Saturday 30th April, 2011
• President Obama promises federal support for affected communities
• Initial costs from property damage alone at US $2 billion to US $5 billion
• Over 10,000 homes destroyed, including many schools
With recovery efforts now underway across the US South following days of deadly tornados, the horrifying toll of destruction has been estimated to cost as much as US $5 billion.
More than 300 people have been killed in Mississippi, Tennessee, Arkansas, Georgia, Virginia and Louisiana with entire neighbourhoods flattened across the South. Several schools were also destroyed and officials have confirmed that, among the 339 dead, there are many children.
“It is heartbreaking,” said President Obama of the devastation. He said that, while those who’d been killed were “alongside God at this point”, the damage to communities was something the government could rectify.
“The property damage, which is obviously extensive, that's something we can do something about,” said the president.
Catastrophe risk modelling company EQECAT, speaking to the Associated Press, said the cost of the recovery would be in the billions.
“With initial reports of buildings destroyed approaching 10,000, property insurance losses are expected to range from $2 to $5 billion,” said EQECAT. Their estimates don’t take into account the wider loss of production to the local economy in the disaster-hit areas.
Many of the tornados that touched down over the last few days were a mile wide and travelled for over one hundred miles, according to the risk modelling company.
“Tornado activity in April is putting 2011 into the record books,” the statement added.
source: http://story.indiagazette.com/index...ns-of-dollars-lost-in-US-South-from-tornados/
