Tornadoes fuel $1.2 billion March storm cost in U.S.: insurance broker Aon

By Andrew Frye
5 April 2012 Severe weather in the U.S., led by tornadoes in the Midwest and Tennessee Valley, caused more than $1.2 billion of insured losses in March, according to Aon Corp. (AON), the world’s biggest insurance broker. Insurers reported more than 170,000 claims tied to storms from March 2 and 3, London-based Aon said in a report today. The insured losses exceeded $1.1 billion. Severe weather in the Great Lakes region in the middle of the month cost the industry more than $150 million, according to the report. U.S. insurers incurred catastrophe losses totaling $35.9 billion in 2011 from disasters including Hurricane Irene in August, according to the Insurance Information Institute. That exceeded the average of $23.8 billion from 2000 to 2010. Insurers including Travelers Cos. (TRV) and Allstate Corp. (ALL) cover property in the U.S. […]

Tornadoes Fuel $1.2 Billion Monthly Storm Cost in U.S., Aon Says via Climate Signals