Severe thunderstorms caused more than $6 billion in insured damages during the first six months of 2009, making it the leading cause for insurance losses so far in what has been called a moderate year for natural disasters.
These figures and others were discussed during a web seminar hosted by Munich Re titled, “First-Half 2009 Natural Catastrophe Update.” The speakers for the event included Carl Hedde, head of risk accumulation for Munich Re America; Prof. Dr. Peter H?ppe, head of geo risks research/corporate climate center for Munich Re; and Dr. Robert Hartwig, president of the Insurance Information Institute (I.I.I.).
Hartwig offered some insights as to why severe thunderstorms are increasing loss severities.
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