According to Gallagher Re, aggregate industry SCS losses see an annual growth rate of more than 11.5% and have grown seven-fold since 2003. However, there has been no notable increase in the frequency or severity of SCS events during the past two decades. Credit: Sabphoto/Adobe Stock According to Gallagher Re, aggregate industry SCS losses see an annual growth rate of more than 11.5% and have grown seven-fold since 2003. However, there has been no notable increase in the frequency or severity of SCS events during the past two decades. Credit: Sabphoto/Adobe Stock

The first half of this year is on pace to set a record for severe convective storms (SCS) losses in the U.S., according to Gallagher Re, which projected total insured losses of at least $29 billion.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

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