X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

With the approach of peak tornado season, it is timely that Risk Management Solutions (RMS) released a report analyzing the impact of the 2008 U.S. severe convective storm season. Last year’s season, which included nearly 1,700 tornadoes, was the costliest in the last decade, causing more than $10.5 billion in insured losses. It was also the deadliest in a decade, with more than 125 fatalities.

In the paper, RMS highlights the precipitating factors that lead to active U.S. severe storm seasons. The Newark, Calif.-based catastrophe modeler notes that storms in the severe category include tornadoes, hail, straight-line winds, lightning strikes, and flash flooding. Hail storms account for more than 60 percent of the average annual loss, compared to 25 percent for tornadoes and 15 percent for straight-line winds, primarily because hail storms cover a larger area and occur more frequently and in coordination with tornadoes.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.