U.S. Severe Weather And Hail Drove Billion-Plus Insured Losses In April: Aon

 Wednesday, May 15, 2019

 Seeking Alpha

Outbreaks or severe and convective weather in the United States, including large hail, tornadoes and thunderstorms, are set to drive well over a billion dollars of losses to the insurance and reinsurance sector, according to Aon.

More than 250 tornadoes touched down in the U.S. in April 2019, the most for that month since 2011, Aon explains in its latest catastrophe update report.

This tornadic and associated convective weather activity drove multi-billion-dollar thunderstorm economic losses during the month, the broker said, with the insurance and reinsurance industry set to take a significant proportion of them.

The most impactful tornado outbreak was struck southern and eastern sections of the U.S. between April 13th to 15th, resulting in the deaths of at least nine people and causing widespread property damage.

With 70 tornado touchdowns, baseball-sized hail, and damaging straight line winds gusting to 100 mph across parts of Texas, Louisiana, Arkansas, Mississippi, and further eastward into the Midwest, Southeast, and Mid-Atlantic, this spell of convective weather has driven estimated economic losses of up to $925 million, with insurers set to pay for around $700 million of the damage.