Severe weather outbreaks across the United States, with a lot of hailstorm damage, resulted in another costly month for insurers as a significant proportion of the US$4 billion economic cost was covered by insurance, according to Aon’s monthly Global Catastrophe Recap report.
One of the more severe outbreaks on May 4-5 hit the Plains, Midwest and Southeast, with impacts felt the most in parts of Kansas, Arkansas, Missouri, Tennessee and South Carolina, said the report. Most damage was due to straight-line winds, causing estimated economic losses of more than US$975 million, with 75% of the costs insured.
