U.S. insured losses in March from severe weather are expected to pass $1.8 billion, according to Impact Forecasting, the catastrophe-model-development center for Aon Benfield.
U.S. events in the quarter included a severe-weather outbreak through parts of the Midwest, the Tennessee Valley and the Southeast during the first week of March, which spawned at least 65 tornadoes and caused over $1.1 billion in insured losses from over 170,000 claims.
Another system during the month hit the Great Lakes, and included a tornado that damaged or destroyed more than 200 homes in Dexter, Mich. That event is expected to cause about $150 million in insured losses from about 20,000 claims.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.