Aon Plc said on Friday that several severe weather outbreaks in the United States are expected to lead to insurance losses in excess of $ 1 billion.
The storms included tornadoes, hail, and floods. The worst outbreaks were March 22-23, 24-26 and 27-28 across the central and southern United States
. A preliminary confirmed total of 122 tornadoes affected during the month, Aon said. The severe weather was most damaging over parts of Alabama, Georgia, Mississippi, Tennessee and Texas.
The total U.S. economic cost from the severe convective storms and floods is expected to approach $ 2 billion, and public and private insurance companies are likely to see Aon said.
Windstorms Klaus and Luis hit parts of Western and Central Europe on March 1
The Australian Insurance Board (ICA) declared an insurance disaster following extensive flooding over parts of eastern Australia from 10 March to 24 March. Approximately 36,000 claims were submitted and estimated to be insured. loss of $ 410 million and expected total financial loss of $ 2 billion.