Seven severe storms cause $3.5bn of damage in US
Seven severe US convective storm events impacted nearly every part of the country during March, according to the new Global Catastrophe Report from Impact Forecasting, Aon Benfield's catastrophe model development team.
The report evaluates the impact of the natural disaster events that occurred worldwide during March 2016. It found that there were more than 1,000 individual reports of tornadoes, damaging straight-line winds and hail were recorded by the US-based Storm Prediction Center.
The Insurance Council of Texas estimated insured losses for the state alone at above $1.1 billion, following more than 125,000 home and auto claim filings over several weeks.
Overall economic losses sustained to property, infrastructure and agriculture across the US from the convective storm and flood damage were anticipated to approach $3.5 billion, while insured losses incurred by public and private insurance entities were tentatively estimated at $2.0 billion.
Meanwhile, the most damaging severe thunderstorm and flood event in at least a decade impacted the United Arab Emirates (UAE) and Oman in March. UAE local insurers anticipated claims to reach Dh500 million ($140 million), with total economic losses forecast to be well into the hundreds of millions of US dollars.
Adam Podlaha, head of Impact Forecasting, said: "The March heavy rain and flood event in the Middle East is a reminder of the risks that these types of perils can bring to areas with an arid climate.
“Impact Forecasting has been successful in recent years in developing modelled solutions for non-traditional perils, including perils like flood in the Persian Gulf region. With increasing exposures in emerging parts of the world, it becomes even more important to expand catastrophe model capabilities into these new territories. Impact Forecasting remains at the forefront of this forward thinking."
Natural hazard events to have occurred elsewhere during the month include thunderstorm and heavy rain events impacted central and eastern sections of China, leading The Ministry of Civil Affairs to report aggregated economic losses of Rmb3.7 billion ($570 million).
Windstorm Jeanne, known locally as Katie also caused hurricane-force winds and flooding in northern Europe, killing at least one person. Total economic and insured losses are expected to exceed $100 million.
In India, intensifying drought conditions caused major crop damage. The National Disaster Relief Fund (NDRF) recently allocated Re 40 billion ($600 million) for seven hard-hit states: Tamil Nadu, Rajasthan, Jharkhand, Assam, Andhra Pradesh, Himachal Pradesh, and Nagaland.
A Canada winter storm system also brought accumulating snow, ice and freezing rain to portions of Ontario and Quebec in March, causing widespread damage. Total economic losses were estimated to approach C$130 million ($100 million), while insurers anticipated losses well into the tens of millions of US dollars.
