$4 Billion: Economic Cost of U.S. Storms During May Alone

[from Insurancejournal.com] Total aggregated economic losses from severe weather in the U.S. during May was set to exceed $4 billion, while public and private insurers face a combined payout approaching an estimated $3 billion, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. The report described several major outbreaks of severe weather, which swept across central and eastern sections of the U.S. during the month, causing extensive damage through large hail, straight-line winds, tornadoes and isolated flash flooding.

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