Public and private insurers were poised to pay more than two-thirds of the estimated $2.3 billion in total combined economic losses from four separate severe weather outbreaks that hit the U.S. in May, according to the latest Global Catastrophe Recap from Aon Benfield's Impact Forecasting.
In May, the U.S. experienced four separate severe weather outbreaks that led to extensive hail and wind damage as up to baseball-sized hail and straight-line winds rushing in excess of 80 mph were recorded. Most of the damage occurred in the eastern two-thirds of the country from the Rockies Mountains to the Mid-Atlantic. Thunderstorms also led to catastrophic flash flooding in Ellicott City, Md.
Hawaii's Kilauea volcano erupted beginning May 3 and continued to spewing ash into the atmosphere and sending lava flows into residential areas. Hundreds of homes and other structures were destroyed in the process.
In Canada, thunderstorm damage occurred in Ontario and Quebec with one particular event leaving an insurance bill of nearly $325 million. Most of the hail and wind damage occurred in Ontario.
Further convective storm damage was noted in Asia and Europe. About 300 people died in India in thunderstorm-related incidents, while an active storm pattern in Central and Western Europe at the end of May is likely to result in insurance payouts reaching hundreds of millions of dollars.
Heavy seasonal rainfall prompted continued flooding and landslides across portions of Asia, Africa and Oceania.
In China, flooding along the Yangtze River Basin and elsewhere in the country led to more than 75,000 homes sustaining varying levels of damage, with total combined economic losses crossing $400 million.
Extensive floods persisted in various African countries, pushing the death toll to 400 since February. More than 1 million people were affected and infrastructure decimated.
In Australia, the Insurance Council of Australia declared an insurance catastrophe following floods in New South Wales. Preliminary payouts neared $21 million.
