convective

The most deadly tornado outbreak since 2014 has struck the United States, causing over 23 deaths and severe damage across parts of Alabama and Georgia yesterday.

The impacts of two days of severe storms and large hail on the metro area of Denver, Colorado earlier this week will drive minimally hundreds of millions of dollars of insurance and reinsurance losses, as the number of claims reported is set to rise to at least 20,000, according to sources.

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).

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.

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.

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.

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.

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.

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.

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.