Reinsurance News

$13bn insured loss from 2020 US severe convective storms: Aon

29th May 2020 - Author: Charlie Wood

Global reinsurance broker Aon has pegged the insured loss in 2020 from US severe convective storm damage at $13 billion.

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This marks the 13th consecutive year that impacts from the peril in the country have surpassed $10 billion in insured payouts; a trend Aon says signifies a “new normal.”

In its weekly catastrophe report Aon has stated that past week of storms will inflict a combined economic and insured loss exceeding $1 billion.

The three weather events – including stretches from May 16-21, May 20-24 and May 25-28 – will likely aggregate to a multi-billion-dollar economic impact.

Aon notes that there are particularly costly hail events expected in San Antonio, Texas, Lubbock, Texas, and in Seminole County, Florida.

Expansive straight-line wind damage will be costly in many other states, too.


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