Reinsurance News
SCS
Combining AI-driven and traditional measures critical to mitigating SCS risks: Allianz
1st April 2026
The frequency and intensity of severe convective storm (SCS) events have increased significantly leading to insured losses in billions of US dollars globally, but these risks can be mitigated with a combination of traditional resilience measures and artificial intelligence (AI) solutions, a recent Allianz report highlights. Last year alone, these unpredictable ... Read the full article
Aon expands daily loss intelligence service to include US Severe Convective Storms
27th March 2026
Global insurance and reinsurance broking group Aon has announced the expansion of its Automated Event Response (AER) service to include US Severe Convective Storms (SCS). This enhancement has been designed to assist insurers to better manage losses, deploy resources and respond quickly to policyholders during active weather events. US SCS has now ... Read the full article
Hailstorms now rival Cat 4 hurricanes in financial losses: Cotality
25th March 2026
Hail has now become a leading driver of insured losses, with modern storms now able to cause financial losses comparable to a Category 4 hurricane, a recently published Cotality report has revealed. For insurers and reinsurers, this shift demands a move away from historical data averages toward property-specific modelling. Ultimately, the entire ... Read the full article
US SCS losses accelerate as second $1bn event emerges in same week: Gallagher Re
20th March 2026
A new Gallagher Re report has indicated that the March 15–16 severe convective storm (SCS) outbreak is on track to become the second U.S. SCS event of the year to generate more than $1 billion in industry losses, occurring within the span of a single week, following the hail and ... Read the full article
PERILS ups industry loss estimate for Queensland & New South Wales storms to AUD 2.95bn
27th February 2026
PERILS, the Zurich-based catastrophe insurance data provider, has increased its insurance industry loss estimate for the Queensland and New South Wales Severe Convective Storms (SCS) that occurred 21 to 27 November 2025, to AUD 2.95 billion. This second estimate compares to the initial loss estimate of AUD 2.663 billion issued ... Read the full article
PERILS ups October Australia east coast SCS insured losses to AUD 1.512bn
2nd February 2026
Zurich-based catastrophe insurance data provider PERILS has disclosed its second industry loss estimate for the Australia East Coast Severe Convective Storms (SCS), which affected Queensland, New South Wales and Victoria between 26 October and 1 November 2025, placing the insurance market loss at AUD 1.512 billion. In line with its Australian ... Read the full article
US SCS losses reach $42bn, establishing a “new normal”: Moody’s
21st November 2025
Insured losses related to US severe convective storms (SCS) reached $42 billion in the first nine months of 2025, with average per-event costs 31% higher than the previous decade’s average, establishing a “new normal” for extreme weather, according to a recent Moody’s analysis. SCS, characterised by winds exceeding 58 MPH, hail ... Read the full article
Insurers flag SCS as top threat in new Demex survey
18th November 2025
According to a survey commissioned by reinsurance MGA Demex, insurance company executives consider severe convective storms (SCS) to be the top peril in terms of balance-sheet impact, underscoring aggregate loss coverage for working-layer property risks as a viable solution for transferring this exposure. The survey, distributed to American Property Casualty Insurance ... Read the full article
KCC releases US SCS Model Version 4.0
12th November 2025
Karen Clark & Company (KCC), a provider of catastrophe risk modelling solutions, has released Version 4.0 of its US Severe Convective Storm (SCS) Model. In the US, SCS losses dominate annual weather-related insured property losses. KCC noted that many reinsurers and ILS investors still rely on older catastrophe modelling technology, which ... Read the full article
Q3’25 insured losses lowest since 2006 as protection gap narrows: Aon
16th October 2025
According to Aon’s Q3 2025 global catastrophe report, insured losses totalled $12 billion for the quarter, 72% below the century average and the lowest since 2006, while year-to-date losses reached $114 billion, 37% above the century average, driven by 22 billion-dollar insured loss events. Aon said global economic losses reached $34 ... Read the full article
ZestyAI adds mitigation-aware scoring to Severe Convective Storm risk assessments
10th September 2025
ZestyAI, a company specialising in AI-driven property risk analytics, has introduced a new feature in its Severe Convective Storm risk suite that allows insurers to update risk scores based on property improvements. The company, which provides data-driven tools for assessing property vulnerability to natural hazards, said the feature enables adjustments for ... Read the full article
PERILS launches SCS industry loss reporting service for Europe, Japan, and NZ
31st July 2025
PERILS AG, a Zurich-based catastrophe insurance data provider, has announced the inclusion of Severe Convective Storm (SCS) industry loss reporting for Europe, Japan, and New Zealand. The new service builds on PERILS’ existing SCS coverage in Australia and Canada. In Europe, the service will cover Austria, Belgium, France, Germany, Ireland, Italy, Luxembourg, ... Read the full article
Severe storms in Europe & US to cause significant insurance losses: Aon
27th June 2025
Aon has reported that recent severe convective storm (SCS) activity is expected to drive economic and insured losses into the hundreds of millions of dollars in Europe, while similar events in the United States are projected to result in losses in the tens of millions. According to the firm's weekly catastrophe ... Read the full article
Up to $7bn May storm losses reinforce SCS reclassification need: Gallagher Re
23rd May 2025
With a preliminary insured loss estimate ranging from $4 billion to $7 billion for the severe weather events across the U.S. between May 14 and 20, Gallagher Re's Chief Science Officer and Meteorologist, Steve Bowen, has argued that it's well beyond time to abandon the semantic classification of severe convective ... Read the full article
May severe weather outbreaks could rank among costliest in US history: Aon
22nd May 2025
Given the widespread tornado, hail, and wind damage across the central and eastern United States, Aon has suggested that the May 14–17 outbreak could rank among the costliest severe weather events in U.S. history when adjusted for inflation. In a new report, Aon examined the meteorological drivers and impacts of two ... Read the full article
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