Disasters May Affect Insurance, Building

The tornadoes that have killed more than 500 people in the Midwest and elsewhere this year will have a trickle-down effect on Kentucky. “There is no doubt that all of the disasters here in the Midwest, Alabama and earlier in April in North Carolina ... will affect insurance rates here,” said David Wiseman, an agent for Van Meter Insurance Group. “The basis of insurance is, you have to spread the risk. So there is no way to take a group of policyholders in a particular area and try to spread losses out over just those policies. You have to spread those losses over a larger number of policyholders.”