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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 →

Tornado outbreak causes multiple deaths & damage in Alabama & Georgia

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.In fact tornado warned severe thunderstorms and convective weather systems were also reported in parts of northern Florida and South Carolina, as a severe weather 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 weather losses in the hundreds of millions: Impact Forecasting

Insurance and reinsurance industry losses from the severe convective weather and tornado outbreak in the U.S. southeast over the last few days are expected to reach well into the hundreds of millions of dollars, possibly higher, according to Impact Forecasting.Already an estimate from the Mississippi insurance commissioner suggests that insurance read the full article →

U.S. tornado forecasting tool shows promise

Meteorologists have long studied the unpredictability and devastation caused by tornado outbreaks in the U.S. in an effort to gain a greater understanding into the predictability, severity and potential location of events.And now, new research by Dr. Victor Gensini has shown some promising signs of predicting favourable tornado conditions up read the full article →

New Aon model to enhance ILS’ view of U.S. severe thunderstorm risks

A new, U.S. severe thunderstorm (STS) scenario model has been launched by Aon Benfield’s catastrophe model development team, Impact Forecasting, which will assist sponsors and investors in the catastrophe bond space to better understand U.S. thunderstorm risks.Insurers, reinsurers, and insurance-linked securities (ILS) players now have access to 7.5 million U.S. read the full article →

U.S. severe weather & thunderstorms to take losses above average: Aon

The recent outbreaks of severe weather in the U.S., which has featured severe thunderstorms, tornadoes, heavy snow, ice and flooding, will result in economic losses of over $1 billion and take the economic loss total from severe thunderstorms to above average for 2015.Aon Benfield's catastrophe risk modelling unit Impact Forecasting read the full article →