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Tag: convective storms

2023’s Severe Weather Events Are Proving Costly to U.S. Insurers

Tornado with dark storm clouds

The U.S. is experiencing its costliest year ever in 2023 for severe convective storms, with insured losses from these events exceeding $50 billion through the end of September, according to the Insurance Information Institute (Triple-I.)

Published October 25, 2023
Categorized as Show on Homepage Tagged convective storms, III. cat-prone areas, severe convective storms

Climate Risk a Major Challenge for Insurance Industry, Treasury Says

Carriers pulling out of states

Climate-related risks are becoming an increasing challenge for insurers, the U.S. Treasury Department said, urging state regulators to step up their so-far “limited” efforts to address the issue.

Published June 28, 2023
Categorized as Show on Homepage Tagged climate change and insurance, climate risk, convective storms, floods, insurance regulation, Treasury dept, wildfires

June Insured Losses from Severe Convective Storms Estimated at $5.5B

Insured losses at $50 billion in US

KCC estimates that the insured loss from this Severe Convective Storm (SCS) outbreak will be close to $5.5 billion.

Published June 22, 2023
Categorized as Show on Homepage Tagged convective storms, insured losses, KCC

Aon Estimates Q1 2023 Global Insured Catastrophe Losses at $15B

Insured losses 2023

Te Impact Forecasting division of insurance and reinsurance broker Aon has issued a preliminary estimate for first-quarter 2023 insured global catastrophe losses, putting the total at around $15 billion.

Published April 14, 2023
Categorized as Show on Homepage Tagged Aon, catastrophe losses, convective storms, Impacting Forecasting, insured losses

South Hit by More Severe Weather After Tornadoes Leave 26 Dead

Insured losses at $50 billion in US

Severe storms rumbled across parts of the South on Sunday, two days after violent tornadoes smashed through the Mississippi Delta region, gutting rural towns and leaving more than two dozen people dead.

Published March 27, 2023
Categorized as Show on Homepage Tagged convective storms, severe weather, tornadoes
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