Forest fires and hurricanes caused billions of dollars in insured losses in October, according to a report on Wednesday from Aon PLC. Insurers "face payments over $ 8 billion" as a result of fires in California, Colorado and Oregon in October, Aon said.
The fires included the Cameron Peak fire in Colorado, the Beachie Creek fire in Oregon and the North Complex, and the Creek fires in California. In Colorado, three of the four largest fires on the state's modern record have occurred since July 31, the report said.
Meanwhile, Hurricane Delta landed on October 9 along the southwestern Louisiana coast as a Category 2 hurricane with "significant storm surge, incessant rainfall and hurricane strength gusts to eastern Texas and southwestern Louisiana," the report said. Financial losses are expected to amount to about $ 4 billion, about half of which is covered by public and private insurance companies, Aon said.
After hitting Mexico's Yucatan Peninsula, Hurricane Zeta landed along the southeastern Louisiana coast on October 28 as a Category 2 storm, the record 1
Insurance companies also face losses of hundreds of millions of euros in the wake of Windstorm Alex, which hit northwestern France 1-2 October and later caused severe flooding in France and Italy, with a significant proportion of the losses "due to significant damage to regional infrastructure ", Says the report. A magnitude 7.0 earthquake struck the eastern Aegean Sea on October 30, resulting in at least 15,000 insurance claims filed with the Turkish Natural Catastrophe Insurance Pool and several thousand more with private insurance companies, according to Aon.