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Insurers face $3 billion payout for severe weather in May

Total aggregated economic losses in the U.S. from severe weather in May exceed $4 billion, while public and private insurers faced a combined payout approaching $3 billion.

By Denny Jacob | Updated on June 09, 2017
Aon Benfield's Global Catastrophe Recap reported on catastrophic weather striking in the U.S. and across the globe. (Photo: Shutterstock)

Total aggregated economic losses in the U.S. from severe weather in May was set to exceed $4 billion, while public and private insurers faced a combined payout approaching $3 billion, according to Aon Benfield’s Global Catastrophe Recap report. These totals may change as further assessments are conducted.

The report reveals that several major outbreaks of severe weather swept across central and eastern sections of the United States during the month, causing extensive damage through large hail, straight-line winds, tornadoes and isolated flash flooding.

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