NU Online News Service, June 6, 2:32 p.m. EDT
Alfa Insurance, Alabama's second-largest writer of homeowners insurance, says it is dropping 73,000 policies over the next 16 months following the costliest storm in the company's history.
Severe weather, which included destructive tornadoes, battered Alabama on April 27. Alfa expects 25,000 claims from the storm, and while this total is less than half of what the company received from Hurricane Ivan in 2004, the severity of the tornado claims will make the late-April event Alfa's costliest ever, the company explains in a statement.
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