CHICAGO, May 10, 2018 /PRNewswire/ -- Impact Forecasting,
Aon Benfield's catastrophe model
development team, today launches the latest edition of its monthly
Global Catastrophe Recap report, which evaluates the impact of the
natural disaster events that occurred worldwide during April 2018. Aon
Benfield is the global reinsurance intermediary and capital
advisor of Aon plc (NYSE:AON).
The report reveals that five separate storm systems caused
severe thunderstorms across the United
States during the month, the strongest of which affected the
Plains, Midwest, Southeast, Mid-Atlantic, and the Northeast, with
nearly 70 tornado touch-downs and up to baseball-sized hail that
damaged residential and commercial property and vehicles. The same
system also led to anomalous snowfall in the Upper Midwest and New
England, while dry conditions behind the storm caused major
wildfires in the Plains, notably in Oklahoma.
Total combined economic losses from convective storm-related
damage in the U.S. during April were estimated at USD2.3 billion, with public and private insurers
expected to pay at least USD1.5
billion in claims.
Michal Lorinc, an analyst within
Impact Forecasting's Catastrophe Insight team, said: "As the peak
of the severe weather season approaches in the United States, it is worth highlighting
the impact of the thunderstorm peril in Europe. As in the U.S., hail has been
particularly damaging to European residential and commercial
property, as well as vehicles, with several historical events
prompting insurance payouts in excess of a billion euros. Given
this risk, Impact Forecasting will soon release a hail model that
includes coverage for several European countries, to help our
clients better prepare for the potential events."
Further natural disaster events to have occurred elsewhere
during April include:
- Persistent flooding in Kenya
killed at least 78 people, and caused extensive water damage to
homes, cropland, and infrastructure. Regional governments indicated
that total economic damage would near KES35 billion (USD350 million), including KES20 billion
(USD200 million) alone to
infrastructure.
- Further flooding and casualties were noted in the African
nations of Somalia, Tanzania, Ethiopia, and Rwanda, damaging more than 10,000 homes.
- Extended cold and snow in China affected nearly 623,900 hectares (1.54
million acres) of cropland. Total economic losses were estimated at
CNY9.38 billion (USD1.5 billion), primarily to the agricultural
sector.
- Winter weather in the Canadian provinces of Ontario and Quebec resulted in total combined economic
losses in excess of USD360 million,
with insurance losses expect to exceed USD180 million.
- Torrential rainfall over the Hawaiian Islands led to widespread
flooding, with at least 532 homes damaged or destroyed. The state
government allocated at least USD125
million to flood repairs.
- Tropical Cyclones Josie and Keni impacted the Fijian islands.
Combined damage to physical property, agriculture and
infrastructure was estimated at more than USD10 million.
To view the full Impact Forecasting April
2018 Global Catastrophe Recap report, please follow the
link:
http://bit.ly/2wnfwPQ
Along with the report, users can access current and historical
natural catastrophe data and event analysis on Impact Forecasting's
Catastrophe Insight website, which is updated bi-monthly as new
data become available:
www.aonbenfield.com/catastropheinsight
Further information
For further information please contact the Aon Benfield PR team:
Andrew Wragg (+44 207 522 8183 /
07595 217168) David Bogg or
Alexandra Lewis
Follow Aon on Twitter: https://twitter.com/Aon_plc
For information on Aon plc. and to sign-up for news
alerts: http://aon.mediaroom.com
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SOURCE Aon plc