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Billion dollar losses possible from night of large hail in Oklahoma & Texas

Once again a large hail storm event looks set to drive at least economic losses towards the billion dollar mark, perhaps insurance and reinsurance market losses too. Last night, areas of Oklahoma and Texas experienced severe convective storms that drove large hail into metro areas, with hail stones of three-inches diameter read the full article →

Halloween hail in Queensland, Australia seen as $805m industry loss

The Insurance Council of Australia has said that its estimate for the insurance and reinsurance market loss from the hailstorm event on October 31st 2020 that struck south-east Queensland is A$805 million. That's far lower than the A$1.3 billion estimate announced by PERILS AG, which is based on insured property and read the full article →

Industry loss from Australian east coast low finalised 3% higher at A$989m

The estimate for insurance and reinsurance market losses from the severe east coast low pressure storm that hit Australia at the beginning of February 2020, has been finalised with a rise of 3% at A$989 million by PERILS AG. PERILS first estimate for this storm at the end of March 2020 read the full article →

Queensland’s October 2020 hailstorm industry loss raised 6% to A$1.3bn

The insurance and reinsurance market loss from a hailstorm event in October 2020 that struck south-east Queensland, Australia has been raised 6% to A$1.3 billion by PERILS AG. The hailstorm was originally designated as the first catastrophe to strike Australia of the 2020-21 season by the Insurance Council of Australia (ICA), read the full article →

Industry loss from Australia’s Jan 2020 hailstorms raised to A$1.9bn

The insurance and reinsurance industry loss estimate for the severe hailstorms that struck the southeastern region of Australia in January 2020 has been raised by roughly 4% to almost AU $1.9 billion. Zurich based, industry-backed estimator of catastrophe insurance and reinsurance market losses PERILS AG had originally estimated the property market read the full article →

US convective storm insured losses hit record $30bn in 2020: Munich Re

Severe convective storm, thunderstorm and severe weather impacts reached a record high last year, as the peril drove the largest share of annual natural disaster losses that were covered by insurance and reinsurance in the United States during 2020, according to data from Munich Re. The convective storm peril, which includes read the full article →

Some ILS fund November returns dented by Australia hail & severe weather

A number of insurance-linked securities (ILS) funds invested into collateralised reinsurance positions that are exposed to catastrophe events in Australia have reported negative performance for November on the back of reserving for hail storms and severe weather, we understand. In particular, losses from the Queensland, Australia hail storms that struck on read the full article →

October 2020 Queensland hailstorm industry loss said A$1.231bn

The insurance and reinsurance market loss from the October 2020 south-east Queensland, Australia hailstorm event has been preliminarily estimated at A$1.231 billion by PERILS AG. The hailstorm was designated as the first catastrophe to strike Australia of the 2020-21 season by the Insurance Council of Australia (ICA), with an expectation that read the full article →

First Australia catastrophe of season declared for Queensland hailstorm

The first catastrophe of the 2020-21 season has been declared in Australia by its Insurance Council, after large hail of up to tennis ball size hit south-east Queensland damaging cars and homes. An influx of claims is expected once as residents and businesses inspect the damage and lodge impacts with their read the full article →

U.S. weather & catastrophes drive over $23bn economic costs in August: Aon

Severe storms, convective weather and large hail across the eastern two-thirds of the United States from August 8th to 12th, including the Derecho that struck the Iowa and Illinois region, is estimated to have cost around $6.5 billion, with more than half of the total likely covered by insurance. The Derecho read the full article →