U.S. Tornado Losses Dominate 2012 Nat Cats So Far

Extreme weather event losses in the United States dominated natural catastrophe loss statistics in the first half of 2012, according to a review by Munich Re and the Insurance Information Institute (I.I.I.). In the 2012 half-year natural catastrophe review, Munich Re noted that some 85 percent of worldwide insured losses and 61 percent of overall losses were incurred in America, predominantly in the U.S. — compared with an annual average of 65 percent and 40 percent respectively since 1980. Severe thunderstorm, tornado events in the U.S. accounted for the five costliest natural catastrophes for the insurance industry in the first six months of the year.