US cat losses to reach $2bn in April
Insured losses are expected to reach $2 billion in the US following significantly increased thunderstorm activity in April, according to Impact Forecasting, Aon Benfield’s catastrophe model development unit.
In its latest Global Catastrophe Recap report, it revealed that in April, there were five separate events impacting central and eastern areas of the US.
“Dozens of tornadoes touched down, with parts of the Plains, Midwest, Southeast, Mid-Atlantic and Southeast sustaining the worst damage. Total combined insured losses were expected to reach $2 billion, including more than $750 million from one event alone. Despite an active month for US tornadoes (185), the annual total remained at a historically low level,” said the report.
April also saw significant damage in the states of New South Wales and Queensland, Australia, due to weather, with estimated insured losses at around $350 million.
In China, four severe weather episodes caused widespread damage to properties and crops leading to aggregate economic losses of almost $1 billion, while a rare F2 tornado prompted considerable damage in the Brazilian town of Xanxere, killing two people.
Chile’s Calbuco volcano erupted three times and led to the evacuation of at least 6,500 residents. The eruptions were expected to cost the local economy up to $600 million, and torrential rainfall caused widespread flooding and landslides throughout parts of Brazil, Afghanistan, Haiti, Kazakhstan, and Kenya, killing 100 people.
