![]() The big question facing the insurance industry today is whether the storms of 2011 are a harbinger of a change in the weather patterns. It was built to withstand the next big storm. In Joplin, many businesses have been rebuilt, and a new hospital replacing one destroyed in the tornado opened in 2015. The revitalization plan called for new uses for the damaged area. Most of the housing stock destroyed was low-income apartments or for students. A school for the performing arts is planned. In Tuscaloosa, a new fire station is complete, as well as infrastructure improvements. The Alabama city took the opportunity to revitalize its city, while its Missouri counterpart opted for rebuilding the destroyed properties quickly. Officials in Tuscaloosa and Joplin chose different paths to fix municipal property. With the record payouts for tornadoes, Missouri changed its regulations to ensure that insurance companies had sufficient reinsurance to guarantee they would not deplete their surplus funds by more than 20 percent in a year. ![]()
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