tornado

Risk modeller EQECAT are the first to announce an estimated insured loss figure for the tornado which struck the city of Joplin, Missouri yesterday. As we wrote yesterday, we suspected that the storm was going to contribute a sizeable loss to the aggregate losses which have been mounting in this record U.S. tornado season, and […]

The U.S. continues to be affected by severe thunderstorms and devastating tornadoes, the latest of which impacted the city of Joplin, Missouri yesterday. The BBC report that the city suffered a direct hit from a tornado leaving a trail of destruction and 30 people dead (Update: CNN now report at least 89 dead). CNN eye-witness […]

Oklahoma insurance commissioner John Doak has requested that research be undertaken into perils that specifically affect Oklahoma including earthquakes, tornadoes, wind storms, ice and freezing rain, according to this article on the NewsOK website. His reasoning is that a study into the catastrophe risks that specifically affect his state could find ways to increase the […]

Estimates for damage caused by the severe thunderstorms and tornadoes at the end of April have been rising in recent days. The highest insured loss estimate we had heard was the one from AIR Worldwide who put losses at up to $5.5 billion for weather conditions between the 22nd – 28th April. Now Risk Management […]

The recent tornado outbreak in the U.S. has caused significant loss of life, damage and is expected to amount to at least $5 billion (some say as high as $7 billion) in insured losses. Two classes of catastrophe bond notes issued by Residential Reinsurance 2008 Ltd. and Residential Reinsurance 2009 Ltd. have been accumulating aggregate […]

Catastrophe’s caused by the recent spell of severe thunderstorm convective weather which resulted in record breaking formation of tornadoes across much of the U.S. midwest and south are likely to cost insurer Allstate as much as $1.4 billion in losses. That’s a lot for one company from an event which has only been estimated to […]

We were incorrect in our assessment earlier that the Mariah Re Ltd. catastrophe bond, which is exposed solely to severe thunderstorm risks (including tornado), was unlikely to be affected by the recent spell of severe convective weather in the U.S. It transpires that due to exposure in the state of Missouri losses have qualified as […]

The tornado and severe thunderstorm outbreak which struck southern and midwestern States in the U.S. between the 22nd to 28th April could cost as much as $5.5 billion in insured losses according to risk modeller AIR Worldwide. This estimate includes damage to residential, commercial and industrial properties and auto losses.

Aon Benfield agree with industry estimates for insured losses caused by the outbreak of severe convective weather across the U.S. in April. The record breaking thunderstorm and tornado outbreaks have caused devastation across U.S. midwest and southeastern states during the past month.

The Alabama State Insurance Commissioner, Jim Ridling, said at a news conference yesterday that he expects the State to bear the brunt of the insured losses expected from the recent spate of tornadoes and severe thunderstorms across the southern U.S.