Tornadoes, thunderstorms, large hail, high winds warned for southern Plains

The U.S. National Weather Service (NWS) Storm Prediction Center is warning of an outbreak of dangerous tornadoes, severe thunderstorms, large hail and high winds for parts of the southern Plains, with a particular focus around north Texas to Oklahoma City.The NWS explains, "An outbreak of tornadoes, some potentially long-track and 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 →

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 →

Convective storms drive July insured losses, China shows protection gap

Global severe convective storm activity in July resulted in another billion dollar plus bill for insurance and reinsurance capital to pay, as severe thunderstorm, tornado, hail, rainfall and wind caused by convective activity, resulted in over $1.3 billion of insured losses worldwide.In its latest monthly catastrophe recap report, Impact Forecasting read the full article →

Convective storm insured losses hit $11bn in 1H 2016: Aon Benfield

The insurance and reinsurance industry is already facing an $11 billion bill for U.S. severe convective storm losses suffered during the first-half of 2016, as tornadoes, hail and straight-line winds impacted the country, with Texas particularly hard hit.Severe convective storms, or severe thunderstorm related weather, has been a driver of read the full article →

At least $7bn of global insured disaster losses in May: Aon Benfield

Global natural disasters and severe weather events are expected to cost the insurance and reinsurance industry at least $7 billion in May, as the Fort McMurray wildfire, European and U.S. severe weather ramp up industry losses.Reinsurance broker Aon Benfield's risk modelling and analytics unit Impact Forecasting estimate that the final read the full article →

German flood insurance losses likely EUR 1 billion: Fitch

Insurance industry losses from recent floods in Germany will likely reach the EUR 1 billion ($1.14 billion) point, according to Fitch Ratings. The losses may weaken the underwriting profitability of the sector and, on top of losses in France and other European countries, are likely to hit some reinsurance layers.Fitch read the full article →

Storm Elvira to cost German insurers $510m+, says GDV

German insurance industry association the GDV has said today that it expects insurers will face at least $510m (EUR450m) of losses due to storm Elvira's impacts which struck the country from the 27th to 30th May.The estimate from the GDV (or Gesamtverband der Deutschen Versicherungswirtschaft) does not include impacts caused read the full article →

San Antonio, Texas hailstorm insured losses to pass $2 billion

According to the Insurance Council of Texas the insurance and reinsurance industry is set to pay for more than $2 billion of the losses caused by the severe hailstorms that struck around the San Antonio area of the state in April."San Antonio’s first hailstorm on April 12 became the costliest read the full article →

Summer storm floods & hail hit Germany, France, Czech Republic again

The trend of European and central European countries being hit by convective style severe weather, thunderstorms, rainfall and flooding continues in 2016, with Germany, France and the Czech Republic all suffering in recent days.Update 4th June 2016: Paris & France floods & storms could cost insurers over EUR2bn: MAIF.Update 3rd read the full article →