Aon, a professional services firm providing risk, retirement, and health solutions, has released a weekly catastrophe report showing that since June 11, Southern Florida has faced substantial financial losses due to prolonged and excessive rainfall and severe convective storms (SCS).
Tag: severe convective storms
What Does the Active Hurricane Season Mean for the Texas Home Insurance Crisis?
We’ve heard from several outlets that the 2024 Atlantic hurricane season is projected to be explosive. In May, for example, the National Oceanographic and Atmospheric Administration (NOAA) projected an 85% chance of an “above-normal” season with multiple major hurricane possibilities.
KCC Director: Hurricanes Increasing in Intensity
AM Best Dan Ward, atmospheric scientist and director of model development, Karen Clark and Co., discusses the outlook for the 2024 hurricane season. Ward expects a very active season this year, especially in places such as Florida and Louisiana, as well as wildfire as a secondary peril.
Gallagher Re: Multibillion-Dollar Insured Loss Expected from Holiday Weekend Storms
Catastrophic severe convective storms over Memorial Day weekend will likely result in multibillion-dollar insured losses, according to Gallagher Re.
State Farm, the largest U.S. homeowners and personal automobile insurer, said it has taken in about 25,650 claims from 16 states from the storms.
Aon: U.S. Insurers Incur Billions of Dollars in Losses from May 16-22 Severe Storms
Severe convective storms May 16-22, including a derecho system that charged across Gulf states from Texas to Florida, caused billions of dollars in estimated insured losses in the United States, according to Aon.
Severe Storms Rumble Across Eastern U.S.
More severe storms and flash flooding will continue for parts of the U.S. on Thursday after an intense line of storms whipped through multiple states with heavy rain and tornadoes, leaving extensive damage and killing at least least one person.
New Record of 142 Natural Catastrophes Accumulates to $108B in Insured Losses in 2023
A devastating earthquake in Turkey and Syria, severe convective storms (SCS) and large-scale urban floods were the main events driving insured natural catastrophe losses to $108 billion in 2023, reaffirming the 5–7% annual growth trend in global insured natural catastrophe losses since 1994.
Claims from Central U.S. Severe Storms Top 27,000
Several insurers have taken in more than 27,000 claims related to mid-March severe convective storms across the middle of the country, from Texas to Ohio.
CoreLogic Previews the Evolving Severe Convective Storm Risk Landscape in New Report
CoreLogic®, a leader in global property information, analytics and data-enabled solutions, released its 2024 Severe Convective Storm Report, detailing how severe thunderstorm risk is growing in the United States and highlighting the historic severe convective storm activity, also known as severe thunderstorm, seen in 2023. There were 141 days with large hail (two inch or greater) in 2023—the highest number of days in 20 years.
A Punishing Year of Thunderstorms Has Led to Record-Breaking Losses
Thunderstorms this year have battered the U.S. as never before, forcing businesses and insurers to grapple with record-setting levels of damage more typically found with hurricanes.