Texas hailstorm industry loss could reach $1bn: Karen Clark & Co.

The insurance and reinsurance industry loss caused by the recent June 6th hailstorm that impacted Texas around the Dallas Fort Worth area, could reach as much as $1 billion, according to analysis by catastrophe risk modelers Karen Clark & Company (KCC). We wrote last week that an initial estimate from the read the full article →

North American thunderstorms drive $2bn+ insured losses in May

Severe convective weather that struck North America in May 2018 with thunderstorms, tornadoes, large hail, flooding and strong winds is estimated to have caused somewhere around $2 billion, perhaps more, of insurance and reinsurance industry losses by Aon. The toll will make May the most impactful month of severe weather so read the full article →

Dallas, Texas hailstorm estimated to cause $425m insured loss

A significant large hail event that struck the Dallas area of Texas in the early hours of the 6th June is expected to result in insurance and reinsurance industry losses of around $425 million, according to the Insurance Council of Texas. As the severe convective or thunderstorm type weather approached the read the full article →

“Ring of Fire” severe convective storms to drive $2.5bn insured loss: KCC

A recent outbreak of severe convective storm weather, so featuring tornadoes, severe thunderstorms, large hail and strong winds, which has been dubbed the "Ring of Fire" is expected to result in insurance and reinsurance industry losses of $2.5 billion, by catastrophe modellers Karen Clark & Company. The so-called "Ring of Fire" read the full article →

Spring storms hit 20 states, cause hundreds of millions in losses: Aon

Between April 13th and 15th a major springtime storm system impacted central and eastern areas of the United States, bringing severe convective weather, thunderstorms, hail, tornadoes, flooding rains and heavy snow, resulting in damage across 20 states and economic and insured losses running into the hundreds of millions of dollars. Impact read the full article →

Annual convective storm expected losses near $25bn: Karen Clark & Co.

According to new research from catastrophe risk modelling specialists Karen Clark & Company, annual expected insured losses for the severe convective storm (SCS) peril in the United States are now approaching $25 billion, which is higher than hurricane and earthquake perils combined. The insurance, reinsurance and insurance-linked securities (ILS) industry is read the full article →

U.S. winter storms & severe weather to drive $2bn March insured loss: Aon

Winter storms and severe weather in March across the United States is likely to drive around $3 billion in economic losses, with two-thirds likely to fall to insurance and reinsurance, translating to an industry loss of roughly $2 billion for the month, according to Impact Forecasting. The catastrophe risk modelling unit read the full article →

Annual convective storm losses near $20bn, new KCC risk model shows

Catastrophe risk modelling specialist Karen Clark & Company (KCC) has announced the launch of a new severe convective storm risk model which shows that average annual losses caused by this peril are nearing $20 billion, which is higher than both hurricanes and earthquakes combined. KCC said that Version 1.0 of its read the full article →

AIR launches severe thunderstorm, tornado, hail risk model for Australia

Risk modelling firm AIR Worldwide has released what it calls the first severe thunderstorm risk model for Australia that captures the three main sub-perils of tornado, hail and straight-line winds, a move that will help insurance, reinsurance and also ILS fund managers to better assess and manage risks in Australia. Australia read the full article →

Severe convective storms drive 78% of H1 2017 global cat loss: Aon Benfield

Global natural catastrophes losses in the first-half of 2017 totalled an estimated $53 billion, with nearly half, almost $26 billion coming from the severe convective storm peril, which was also the costliest peril in terms of insured losses, according to reinsurance broker Aon Benfield. Aon Benfield had said previously that insurance read the full article →