Reinsurance News

Cost of severe US weather outbreak could surpass $1bn: Aon

17th April 2020 - Author: Staff Writer

A  number of southern and eastern US states were hit with a prolific severe weather outbreak between April 10 and 14, according to the latest catastrophe report from Aon.

Aon logoAt least 41 people were killed and hundreds more injured by an outbreak which prompted a minimum of 121 confirmed tornado touchdowns from Texas to Maryland in addition to very large hail, damaging straight-line winds, and torrential rains.

Aon describes Mississippi, Alabama, Louisiana, Georgia, Tennessee, South Carolina, and North Carolina as the hardest hit by the deadly tornadoes, large hail, and non-tornadic winds topping 70mph.

Aon expects total economic and insured losses to minimally reach into the hundreds of millions of dollars; though likely to approach or surpass $1 billion.

This is expected to be the fifth billion-dollar severe convective storm event in the U.S. thus far in 2020.

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This follows what was a particularly active month in March for US weather losses, with separate billion-dollar tornado events marking significant losses for the re/insurance industry.

Most notably, deadly tornados tracked across central Tennessee on March 3, including an EF4 and EF3 in metro Nashville that damaged or destroyed more than 4,000 homes and businesses.

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