U.S. Economic Losses in August Top $4 Billion

As far as natural perils go, August was mostly about earthquakes, along with a few tropical storms and typhoons around the world to add to the trouble, according to Aon Benfield’s Impact Forecasting in its latest global catastrophe report. Earthquake events hit around the world in August, in Peru, Ecuador, Iran, Algeria, and South Africa. But one of the biggest took place on Aug. 24 in the Napa Valley/San Francisco Bay Area in the U.S., causing a tremor of at least magnitude 6.0.