hail storm

Share

Multi-billion severe weather losses across North America in June: Aon

The United States and Canada experienced multi-billion dollar insurance and reinsurance losses from severe weather during the month of June 2020, with hail storms in Calgary and convective weather in the U.S. driving the largest share, according to Impact Forecasting. Insurance and reinsurance broker Aon's catastrophe risk modelling and weather analytics read the full article →

Calgary hail storm among costliest in Canada, likely to exceed C$1bn: Aon

A recent severe hail storm event that impacted the Calgary area of Alberta, Canada is expected to become on the most costly hail loss events in the country's history, with economic costs likely to exceed C$1 billion (US $735m), the majority of which will be covered by insurance and possibly read the full article →

Severe weather, tornadoes, hail, floods drive multi-billion insured loss in May: Aon

The insurance and reinsurance market faced another month of severe weather in the United States in May 2020, with the market set for the third consecutive multi-billion dollar insured loss month this year, according to Impact Forecasting. Impact Forecasting, the weather, climate and risk modelling unit of insurance and reinsurance broker read the full article →

Industry loss from U.S. severe convective storms passes $13bn YTD: Aon

2020 looks set to be another significant year for severe convective storm losses in the United States, with the insurance and reinsurance market already on the hook for over $13 billion of costs year-to-date, with hail again a significant driver. In 2019, severe convective storms and severe weather drove almost $23 read the full article →

Swiss Re CorSo launches parametric hail insurance for the U.S.

Swiss Re Corporate Solutions (SRCS), the commercial risk taking entity of global reinsurance firm Swiss Re, has launched a parametric hail insurance product in the United States, citing the growing level of losses experienced from severe thunderstorm risks as driving the need for innovative protection. Last year, 2019, the United States read the full article →

Australian summer catastrophe industry losses surpass A$5bn

Insurance and reinsurance market losses from Australia's series of summer catastrophe loss events have now risen to a new high of almost AU $5.1 billion, according to the Insurance Council of Australia. When we last covered these loss events, which range from severe convective weather related hail storms, to flooding and read the full article →

Australian east coast low industry loss estimated at A$794m by PERILS

Insurance and reinsurance market losses from a severe east coast low that struck Australia at the beginning of February are estimated to be A$794 million, according to PERILS AG. As we explained yesterday, the Insurance Council of Australia (ICA) pegged the losses from this latest catastrophe to beset Australia during its read the full article →

Loss from Australia’s Feb east coast storms & floods reaches A$677m

Insurance and reinsurance market losses from severe storms and flooding that impacted the eastern coastal region of Australia at the beginning of February are now estimated to have reached A$677 million by the Insurance Council of Australia (ICA). The storms and torrential rains began around February 4th and ran through to read the full article →

Insured losses for Australia’s Jan hailstorms rise almost 50% to A$1.2bn

The insurance and reinsurance industry bill after the severe hailstorms that hit the southeastern region of Australia in January have now risen by almost 50%, with the latest industry loss estimate now at A$1.2 billion (around US $700m). It makes the hailstorms one of the most costly hail events in Australian read the full article →

Property market loss from Australia’s January hailstorms A$670m: PERILS

The property insurance market loss from the severe hailstorms that struck the southeastern region of Australia in January has been preliminarily estimated at A$670 million by PERILS AG. The Zurich based, industry backed estimator of catastrophe insurance and reinsurance market losses only includes property insurance related losses, so does not report read the full article →