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U.S. severe storms in July cost $2bn, insurers to take majority: Aon

Severe convective weather, including thunderstorms, hail, tornadoes and damaging winds across the United States are expected to drive $2 billion of costs, with the insurance and reinsurance sector to take the majority, according to Aon.Five major severe weather outbreaks drove the bulk of these costs, with one outbreak across the read the full article →

Severe weather in June drives $3bn+ costs for U.S. and Europe: Aon

Severe and convective weather outbreaks drove significant damages in the month of June 2019, Aon reported, with over $3 billion of economic losses expected and approaching $2 billion in insurance and reinsurance hit expected in the U.S. and Europe.It's another month where the severe and convective weather related peril drove read the full article →

Derecho & severe storms drive hundreds of millions in U.S. losses: Aon

In the last week a Derecho event and series of severe storms that drove hail, strong winds and tornadoes are expected to combine into another week where the insurance and reinsurance sector faces hundreds of millions of dollars in losses.A Derecho event is a long-lived and intense line of severe read the full article →

U.S. severe weather in May to drive $2bn or greater financial impact: Aon

Impacts from severe convective weather, thunderstorms, tornadoes and hail in the United States during May 2019 looks set to result in somewhere around $2 billion or more of economic costs, with most of the wind and hail loss falling to re/insurance capital.Aon's latest catastrophe report by its Impact Forecasting unit read the full article →

Tornadoes, thunderstorms, hail drive another $1bn+ U.S. weather week: Aon

For the second week in a row, a convective weather setup across much of the United States has driven severe thunderstorms, tornadoes, large hail, damaging winds and resulted in flooding, all of which is expected to drive more than a $1 billion of losses, the majority of which will fall read the full article →

Tornadoes to drive billions more in costs, 2019 now above average year

Tornadoes that struck the U.S. in recent days, as well as strong and damaging winds and large hail, are expected to drive billions of dollars more in economic costs, as 2019 now moves above the long-term average in terms of the number of tornadoes counted by NOAA.The severe thunderstorm and read the full article →

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 →

U.S. tornadoes, Euro storm Zeus drive insured cat losses this week: Aon

Another outbreak of severe thunderstorms and convective weather resulting in numerous tornado, hail and strong wind reports across the central U.S., and European windstorm Zeus which slammed into France causing widespread impacts are likely to drive insured losses this week.Both events may have ramifications for reinsurance and ILS capital sources, 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 →