US Severe Weather & Tornadoes May Drive Q1 Large Cat Losses Above $10B

The severe convective weather, thunderstorms, large hail and tornadoes that affected the United States this week is expected to aggregate to drive hundreds of millions of dollars in insured losses, according to Aon’s Impact Forecasting.

The catastrophe risk modelling and meteorological unit of the insurance and reinsurance broker highlighted the expectation this could be the most costly severe weather outbreak of the year so far in the US.

But also pointed out that the severe weather season is really only just beginning, with tornado and hail count numbers seemingly relatively high for an outbreak at this time of the year.

The severe weather outbreak was most acute in parts of Texas, Louisiana, Mississippi, and Alabama, with a New Orleans tornado likely to be the biggest contributor to the insurance and perhaps reinsurance market loss.