Filed Under:Agent Broker, Commercial Business

U.S. Tornadoes as Deadly, Costly as Hurricanes: Lloyd’s

Pedestrians walk by the debris of vehicles and homes in front of Enterprise High School in Enterprise, Ala. on Thursday March 1, 2007, after a suspected tornado destroyed many homes and part of the school. (AP Photo/Mari Darr Welch)
Pedestrians walk by the debris of vehicles and homes in front of Enterprise High School in Enterprise, Ala. on Thursday March 1, 2007, after a suspected tornado destroyed many homes and part of the school. (AP Photo/Mari Darr Welch)

Each year in the U.S., 1,200 tornadoes on average kill 60 people, injure 1,500, and cause roughly $400 million in damages, putting long-term average tornado losses on par with hurricanes, according to a new report by Lloyd’s of London.

“Tornadoes: A Rising Risk?” finds that the U.S. experiences more tornadoes than anywhere else in the world. The year 2011 was especially vicious, with a record-breaking 1,600 tornadoes causing more than $25 billion in damages, surpassing records for the most tornadoes in a single month and daily.

Other key findings in the report include:

  • Although the number of tornado reports has increased by an average of 14 percent per year since the mid-1950s, much of this is attributable to improved tracking and communication, not necessarily an increase in incidents.
  • With urbanization creeping into formerly rural areas, tornadoes are more likely to hit densely populated areas and cause more damages, as evidenced in the increase in the number of billion-dollar events.
  • Annual aggregate losses from severe thunderstorms, including tornadoes, account for more than half of all catastrophe losses since 1990. The main insurance classes affected are property, motor and agriculture. 
  • Between 1980 and 2011, 43 percent of windstorms losses were attributed to severe thunderstorms, compared with 50 percent for tropical cyclones.
  • Although technology has become more sophisticated, it’s still difficult to predict and detect tornadoes, resulting in relatively short lead times.
  • The El Nino and La Nina phases have a long-term effect on tornado activity, with El Nino minimizing the risks. The two devastating outbreaks of 2011 tornadoes occurred during a La Nina phase.
  • The correlation between climate change and tornado activity is still unclear. Climate models are currently unable to resolve small-scale phenomena like tornadoes, and no models exist which can use climate model data to predict future tornado activity.

Find a complete copy of the study here

 

Top Story

Let’s talk turkey: 5 ways your Thanksgiving could go very, very badly

Thanksgiving is the most dangerous time of year for kitchen fires, and deep-fried turkeys actually aren't the top risk.

CE & Training

One Low Price for Complete Access to All Courses

Choose from National Underwriter's complete library of courses available in your state to get the credits you need quickly and affordably. Take advantage of the Open Pass Package for only $49. Click here to start your training today!

More Resources

Comments

eNewsletter Sign Up

Agent & Broker Insider eNewsletter

Proven success tips and essential information to help agents and brokers grow their practice – FREE. Sign Up Now!

Mobile Phone
         

Advertisement. Closing in 15 seconds.