Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 25th of September 2018
May 12, 2011

AIR: US thunderstorm insured losses up to $5.5bn

by Gill Montia

Story link: AIR: US thunderstorm insured losses up to $5.5bn

AIR Worldwide estimates insured losses from the severe thunderstorm outbreak that struck the US between 22nd and 28th April 2011 at between $3.7 billion and $5.5 billion.

The estimates reflect: insured physical damage to property (residential, commercial, industrial, auto), both structures and their contents;
additional living expenses for residential claims; business interruption losses to residential, commercial and industrial properties and their contents, and to automobiles.

According to the catastrophe modeler, thousands of disaster response personnel and inspectors remained on the ground a week after the severe weather outbreak across the Southern and Southeastern United States.

The second-deadliest severe thunderstorm outbreak in US history claimed an estimated 354 lives across seven states and left thousands homeless.

Having visited the worst-hit areas of Alabama, around Tuscaloosa and Birmingham, AIR engineers noted that in areas of Tuscaloosa affected by the EF-4 tornado, large commercial structures were “reduced to rubble.”

 

News posted:



Related stories to AIR: US thunderstorm insured losses up to $5.5bn: