hailstorms News

Texas, Oklahoma Hailstorms Likely Caused $3.5B in Damage: Accuweather

Violent spring storms packing high winds and large hailstones in Texas and Oklahoma on April 28 likely caused $3.5 billion in damage, according to Accuweather.com. Additionally, the National Weather Service confirmed an EF-1 Tornado was included within a wide swath …

January’s Hailstorms in Australia Cost Insurers an Estimated A$1.8B (US$1.3B): PERILS

The industry loss footprint for the January 2020 Australian hailstorms, which occurred Jan. 19-21, 2020, are estimated at A$1.8 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The figure is based on …

U.S. Economic Losses from Severe Weather During May Topped $4 Billion: Aon

Severe weather outbreaks across the United States, with a lot of hailstorm damage, resulted in another costly month for insurers as a significant proportion of the US$4 billion economic cost was covered by insurance, according to Aon’s monthly Global Catastrophe …

Remnants of Cristobal Bring Thunderstorms, Flooding to Midwest

The remnants of Tropical Storm Cristobal were moving out of the Midwest and into Canada on Wednesday, with gusty winds and heavy rain leaving behind flooding in Indiana, Wisconsin, Missouri and Iowa. High winds brought down trees and left thousands …

Hail Has Damaged Insurance Market for Car Dealers. Parametric Insurance May Help.

Nick Pacifico has been working at his family’s Cadillac dealership in Denver since 2003. He’s never seen insurance costs this bad. “Getting coverage is nearly impossible,” said Pacifico, vice president at Rickenbaugh Automotive Group. Two years ago he paid about …

Re/insurers Rethink Climate Change Risks as Losses Grow from Wildfires, Floods, Hail

By the time David Kaisel got back from selling his flour at a farmers’ market, a wildfire in California’s Capay Valley had burnt both his tractor and the shipping container where he kept some tools. His insurer is set to …

Artificial Intelligence Helps to Contain Wildfires, Predict Wild Weather

On a tower in the Brazilian rainforest, a sentinel scans the horizon for the first signs of fire. Only these eyes aren’t human. They don’t blink or take breaks, and guided by artificial intelligence they can tell the difference between …

Insured Property Losses for December 2018 Sydney Hailstorms Rise to A$766M: PERILS

Insured losses for the hailstorms, which hit the greater Sydney region on Dec. 20, 2018, have risen to A$766 million (US$526.6 million), according to PERILS, in its third loss estimate for the storms. PERILS, the independent Zurich-based organization that provides …

New South Wales Hailstorm Triggers Australia Catastrophe Declaration

The Insurance Council of Australia (ICA) last week declared a catastrophe following storms that caused extensive hail and water damage across Sydney and the Central Coast in New South Wales (NSW). As of Dec. 21, insurers had received more than …

Alternative Capital Responds to 2017 Catastrophes with ‘Show of Strength’: Aon Benfield

Hurricanes Harvey, Irma and Maria represented the first real test of the staying power of the alternative capital sector, which has responded with a show of strength by continuing to fund reinsurance capacity, according to a report published by Aon …