Reinsurance News

June Severe Convective Storm outbreak insured loss estimated at $5.5bn: KCC

21st June 2023 - Author: Kane Wells

Based on its high-resolution SCS Reference Model, Karen Clark & Company (KCC) has estimated that the insured loss from the Severe Convective Storm (SCS) outbreak between June 10th and 19th in the US will be close to $5.5 billion.

KCC recently pegged insured losses for the June hailstorms in Texas at over $1 billion, though the firm has now expanded on that to incorporate the wider severe convective and thunderstorm-type weather events that occurred.

“The prolonged severe weather system that began on June 10th and persisted until June 19th resulted in over one thousand reports of hail and damaging wind gusts throughout the Central and Southern US,” KCC explained.

The catastrophe modeller noted that dozens of instances of softball-sized hail were reported across Texas, Arkansas, Mississippi, and Georgia and extreme wind gusts exceeding hurricane force were measured throughout the South.

While hail and winds were the dominant features of this event, several damaging tornadoes also formed.

AmericanAg - Global Reinsurance Solutions

According to KCC, there have been 1,557 reports of hail, 93 reports of tornadoes, and 2,719 reports of damaging wind gusts from this event. In all, 25 states were impacted.

The catastrophe modeller suggests that Texas experienced the most damage, followed by Arkansas, Oklahoma, Mississippi, Louisiana, and Alabama.

Of the 1,557 hail reports, more than 18% were severe (>2″ in diameter). Large hail in Mississippi (4.75″) and Arkansas (4.88″) came close to state records of 5″.

The largest hailstone recorded from this event fell in Wheeler County, Texas on June 13th and measured 5.5 inches.

KCC continued, “The Dallas Metroplex had severe hail from recurring supercell thunderstorm activity spanning a few days within this event, including several reports of softball-sized hail. Over 40 hurricane-force wind gusts were reported across the South throughout the event.

“Supercell thunderstorms organized into a mesoscale convective system and tracked across the state of Oklahoma that produced a 100 mph wind gust near Tulsa.

“Two confirmed EF-3 tornadoes formed during the event, each of which tracked 7 miles and caused damage to homes and businesses – one in Perryton, TX and a second in Louin, MS.”

Print Friendly, PDF & Email

Recent Reinsurance News