6 July 2018Insurance

US storm insured losses exceed $100m in one week

Powerful thunderstorms led to extensive damage across parts of the Central and Eastern United States from June 29 to July 4, causing economic and insured losses expected to well exceed $100 million, according to Aon’s Weekly Cat Report.

The storms brought large hail, damaging straight-line winds, and isolated tornado touchdowns from the Plains to the Northeast. The storms also prompted torrential rains and flash flooding in Iowa (Des Moines), Pennsylvania (Pittsburgh), and Texas (Houston). At least one person was killed. Total economic and insured losses were anticipated to each exceed $100 million, according to Aon.

The most notable damage during the period was the result of severe storms prompting flash flooding in the greater Des Moines metro area on June 30. Up to 9.00 inches (229 millimetres) of rain fell, which caused several rivers and creeks – including Walnut Creek, Fourmile Creek, and Racoon River – to rapidly overflow their banks in Polk County. Hundreds of properties and vehicles were inundated.

Elsewhere, widespread damage from straight-line winds gusting beyond 70 mph (110 kph) and hail larger than golf balls swept across parts of Colorado, Wyoming, Kansas, South Dakota, North Dakota, Nebraska, Michigan, Wisconsin, Pennsylvania, and New York. Of note, a 4.0-inch (10.1-centimeter) hailstone was recorded in Luce County, Michigan on June 30, which is one of the largest (or perhaps the largest) hail on record in the county.

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12 June 2018   The hailstorm that spread across part of Texas on June 6 - with baseball sized hail reported in Dallas, Tarrant, and Denton counties - is estimated to result in insured losses close to $1 billion, according to Karen Clark & Company (KCC).
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11 July 2018   Severe thunderstorms leading to flash floods and hail across the eastern two-thirds of the US in June led to $4 billion economic losses and $3 billion of claims for insurers, according to Aon’s Global Catastrophe Recap report.