Significant storms in the United States and in the United Kingdom last month insurers cost more than $4 billion, according to the December Global Catastrophe Recap report from Chicago-based Impact Forecasting.
The report shows that a complex weather pattern affected multiple regions of the United States, killing at least 64 people. Parts of the Midwest, Plains, Southeast, Rockies and Northeast were all affect by inclement weather, though Missouri, Texas, Illinois, Arkansas, Oklahoma, Mississippi, Tennessee, Alabama, Kentucky and Indiana were among the hardest-hit.
Impact Forecasting, which is a subsidiary of London-based Aon plc, says estimates suggest that total economic losses from the weather events during the month will exceed $4 billion, with insured losses likely to approach or exceed $2 billion. The Insurance Council of Texas reported losses of $1.2 billion in the Dallas area alone.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
