tornadoes

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.

Yesterdays outbreak of severe thunderstorms, which triggered large hail, damaging winds and tornadoes across the U.S. midwest, is not expected to impact any of the catastrophe bond positions in Swiss catastrophe bond investment fund manager Plenum Investments portfolio.

The month of May in the United States saw two separate severe weather events which will each result in losses to the insurance industry of over a billion dollars, according to the latest monthly Global Catastrophe Recap report from Impact Forecasting, the cat modelling division of reinsurance broker Aon Benfield.

Risk Management Solutions (RMS) is the second catastrophe risk modelling firm to come forwards with an estimate of the insured losses from the recent Oklahoma tornado event. RMS has focused solely on the single tornado that struck the town of Moore and estimates the insured loss toll to be between $2 billion and $3.5 billion.

Ratings agency Moody’s is the first to issue a credit rating update related to a catastrophe bond that is exposed to the recent tornadoes in Oklahoma, including the Moore tornado event. Moody’s said in the update that losses resulting from the catastrophic tornado that struck Moore, Oklahoma on the 20th May are credit negative for […]

Risk modelling firm EQECAT is the first to offer an estimate of insured property losses for the recent tornado events, including the devastating Moore, Oklahoma tornado. In its latest CatWatchTM report EQECAT has put an insured loss estimate on the tornado events of the 18th to 20th May, including Moore, of between $2 billion and […]

The tornado which struck the Oklahoma suburban town of Moore on the 20th of May looks likely to become the largest single catastrophe insured loss event of the year on U.S. soil. The U.S. National Weather Service (NWS) has now upgraded the severity of the tornado, saying that evidence shows that it was an EF-5 […]

The tornado which struck Moore, Oklahoma yesterday, causing many fatalities and devastating a wide swathe of Oklahoma’s suburbs, could result in a reaction in the secondary catastrophe bond market, according to investors. The tornado is expected to cause an insured loss in the billions of dollars (how high it is too early to say) and […]

A huge tornado cut through the Oklahoma City suburbs yesterday mid-afternoon local-time, causing widespread devastation from a track estimated to be up to a mile wide at times. The tornado made a direct hit on the town of Moore, as a severe tornado with winds of up to 200mph and the storm has been given […]

Reinsurance broker Aon Benfield’s latest Global Catastrophe Recap report, which reviews the natural disaster perils that occurred worldwide during March, highlights the growing losses that the reinsurance industry will face from the U.S. tornado season in 2012. The season has got off to an above average start again and the number of tornadoes to be […]