US storms in May to cost insurers $1bn, says Aon

In its Global Catastrophe Recap report for May, the firm said that four periods of severe weather across the country meant that insured looses from hail and wind were likely to be around $1bn (£590m), with economic losses likely to reach several billion more. The costliest stretch occurred in a five-day period across parts of the Midwest, the Rockies, and the Northeast, with the major cities of Chicago and Denver among the areas affected. However, tornado activity in the year so far remains in the bottom 25th percentile of all years dating to the early 1950s, the report added.