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Global economic losses from September tropical cyclones could exceed $4.2B, Impact Forecasting says

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Global economic losses from September tropical cyclones could exceed $4.2B, Impact Forecasting says

Global economic losses from tropical cyclone landfalls inSeptember could reach more than $4.2 billion, according to the latest globalcatastrophe report from Aon Benfield's Impact Forecasting.

Total economic losses from , the first hurricaneto make landfall in Florida in 11 years, were estimated to surpass $800million, with insured losses projected to be about $400 million. It causedwidespread damage and power outages in Florida, Georgia and the Carolinas andclaimed at least three lives.

A magnitude-5.8 earthquake struck Oklahoma on Sept. 3,leading to the shutdown of dozens of wastewater wells. Hundreds of structureswere damaged by the largest earthquake ever recorded in the state.

Total economic losses were expected to surpass $100 millionfrom excessive rainfall and thunderstorms from Sept. 19 to Sept. 23 that led towidespread flooding in Iowa, Wisconsin and Minnesota, killing at least twopeople.

Hurricane Newton made landfall in northeastern Mexico,causing more than $10 million in economic losses and damaging approximately3,500 homes.

In Europe, torrential downpours hit portions of Greece onSept. 6 and Sept. 7, triggering widespread floods that claimed four lives andcaused total economic damage of at least $56 million.

Powerful thunderstorms led to flooding and landslides inNigeria on Sept. 6 and Sept. 7 that damaged hundreds of homes and killed atleast 28 people. Tanzania was struck by a magnitude-5.8 earthquake that killedat least 19 people and led to economic losses of $458 million.

China's Fujian Province was hit by a weakened Super TyphoonMeranti that caused total economic losses of $2.4 billion and claimed at least44 lives. More than 70,000 homes were damaged by the storm, which was aCategory 5 at its peak with 190-mile-per-hour sustained winds. Northernportions of China were struck by two powerful thunderstorms from Sept. 4 toSept. 6 that caused combined economic losses of $123 million. From Sept. 8 toSept. 13, strong thunderstorms swept across northern and southern China,causing total economic losses of $175 million.

South Korea was struck by a magnitude-5.4 earthquake thatresulted in total economic damage of $21 million.

In Australia, major flooding occurred in New South Wales,causing $383 million in damages to crops alone, with overall economic lossesexpected to reach much higher. Overall economic and insured losses could reachtens of millions of dollars from a storm that led to widespread torrentialdownpours and isolated tornadoes, and caused significant damage and poweroutages throughout South Australia.