Annual U.S. severe weather insured losses for 2021 are jumping above $20 billion after a rough October, even before the year is complete, according to a new Aon report.
“October is typically considered a ‘second season’ for severe weather in the United States as it marks a transition from summer warmth to cooler autumn temperatures,” Brian Kerschner, senior catastrophe analyst for Aon’s Impact Forecasting team, said in prepared remarks. “This year saw one of the highest tornado tallies for the month on record as it added to what is shaping up to be another year with insured losses exceeding $20 billion.”
Heavy weather hits for the month weren’t limited to the U.S. Kerschner said Australia also took some hits, with sizable October thunderstorm activity causing “an insurance catastrophe for multiple states,” thanks in large part to large hail.
In the U.S,…
