tornado

Global total economic and insured losses from severe convective storms is on the rise as the event’s sub-perils, which includes hail storms, flooding, severe thunderstorms and tornadoes, caused increasing losses in 2014, according to reinsurer Swiss Re.

2014 is on course to be one of the lowest years for U.S. tornado activity on record. The number of tornadoes recorded so far throughout the states is below the absolute minimum ever recorded and roughly half the amount recorded in 2011.

A new piece of insurance industry research, announced today by Verisk Climate a division of Verisk Analytics, seeks to explain the changing frequency of severe thunderstorm weather events in the U.S.

Mariah Re Ltd. has filed an appeal against the recent ruling which found that the terms governing the definition of and process for defining qualifying events under the catastrophe bond were unambiguous and that the payout should stand.

A New York Federal judge dismissed claims regarding the catastrophe bond Mariah Re Ltd. on Tuesday, according to court transcripts. The judge ruled that the terms governing the definition of and process for qualifying events of Mariah Re are unambiguous.

A recent study conducted by reinsurance giant Swiss Re uses logic-based methodology to predict the potential financial impacts of tornadoes on large US cities to the insurance and reinsurance industry.

Insured losses from severe convective weather, including tornadoes, severe thunderstorms and hail, in the United States continue to rise in 2014, with the total now estimated to have reached an insurance industry loss of $5.5 billion by Impact Forecasting.

Last week we added a new page to Artemis, under the Catastrophes tab above, providing sources of data to help you track the development of the U.S. tornado and severe thunderstorm season, one of the perils that catastrophe bonds and ILS have exposure to.

Insurance industry losses from hail storms and extreme hail events are rising, with recent storms showing that hail should no longer be considered just an attritional loss causing peril, according to risk modeller RMS.

Sunday’s outbreak of severe thunderstorms and tornadoes across the U.S. midwest looks set to become the first billion dollar insured loss event caused by severe weather of the month, according to risk modeller RMS.