U.S. Insurers Face Roughly $2 Billion In Losses From Severe Weather Events In May

Aon has launched the latest edition of its monthly Global Catastrophe Report for the month of May, which found that the US suffered considerable disaster-related losses despite a “quieter” start to the tornado season. For the month of May, the US dealt with four separate severe weather events that cost millions of dollars. Notably, this was despite a relatively subdued start to tornado season — fewer than 450 tornadoes were reported as of June 01. This puts 2018 in the lowest 25% of years since 1950.