NU Online News Service, April 6, 12:58 p.m.EST
|U.S. insured losses in March from severe weather are expected topass $1.8 billion, according to Impact Forecasting, thecatastrophe-model-development center for Aon Benfield.
|U.S. events in the quarter included a severe weather outbreak through parts of the Midwest, theTennessee Valley and the Southeast during the first week of March,which spawned at least 65 tornadoes and caused over $1.1 billion ininsured losses from over 170,000 claims.
|Another system during the month hit the Great Lakes, andincluded a tornado that damaged or destroyed over 207 homes in Dexter, Michigan. Thatevent is expected to cause about $150 million in insured lossesfrom about 20,000 claims.
|Steve Jakubowski, president of Impact Forecasting, says,“Following an active 2011 U.S. severe weather season, the firstquarter of 2012 has also proven itself to be markedly busy. Throughthe first three months of 2012, we have already sustained more than$1.8 billion in insured losses from convective storm events as weenter the climatologically most active severe weather months of theyear. Despite the heightened activity thus far, it is nearlyimpossible to forecast and project losses for the rest of2012."
|Elsewhere around the world during the month, a magnitude-7.4 earthquake in central and southern Mexico damagedaround 44,000 homes and is expected to cause around $163 million ininsured losses.
|A magnitude-7.1 quake struck central Chile, and was labeled anaftershock from February 2010's magnitude-8.8 event. Economiclosses are expected to be below $100 million, and no insured-lossestimate was provided.
|Another earthquake struck China's Xinjiang region—this one amagnitude-5.8 temblor. It left 36,641 people homeless and causeddirect economic losses of $82.7 million. No insured-loss estimatewas given for this event.
|Flooding in portions of Australia's New South Wales (NSW) andVictoria regions between the end of February and the first half ofMarch is expected to cause about $112.5 million in insuredlosses.
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