Possible F5 tornado levels Joplin, Missouri, causing between $1 billion and $3 billion in insured damage

Preliminary insured loss estimates from the May 22 tornado that hit Joplin, Missouri, range between $1 and $3 billion, according to the catastrophe risk modelling company EQECAT.
Initial surveys by the National Weather Service indicate the tornado, reportedly a mile wide, had wind speeds of up to 320 km-h. Ongoing damage surveys could warrant an upgrade on the Enhanced Fujita Scale to EF5 for this tornado, EQECAT reported.
According to initial damage reports, the tornado destroyed up to a quarter of the city’s building stock (2,000 buildings). Furthermore, between 5,000 and 10,000 buildings or houses (50-75% of the city’s stock) have been damaged by the tornado’s wind field.
As of press time, at least 117 people have been killed as a result of the storm, making it the United States’ deadliest tornado in 50 years.
“The tornado initially touched down at the Kansas-Missouri state line just southwest of Joplin and tracked east-northeast through residential/commercial areas of southwest Joplin proper,” an EQECAT release says. “The tornado intensified as it tracked across Joplin, moving just south of the downtown area. The town suffered catastrophic damage as the tornado destroyed several schools, downtown businesses and St. John’s Regional Medical Center.”