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Weather feelings cause millions in January insured losses



Difficult winter weather caused $ 1 billion in financial losses and hundreds of millions in insured losses in the US in January, while the hottest temperatures on record, severe drought and flooding are combined to cause at least $ 57 million in insured losses in Australia, according to Aon PLC Global Disaster Reference.

Several winter storms and extreme cold led to 45 deaths and a billion dollar financial loss in the United States, according to the report released on Tuesday.

A wind cooling temperature minus 65 ° F was recorded in the Midwest at the end of January after an extreme outbreak of Arctic air, the report noted. Total economic and insured winter weather losses in the eastern and northwestern US are expected to reach hundreds of millions of dollars according to the report.

"It will take longer than normal time to generate a full insurance loss from the recent and ongoing winter storms in the United States," said Steve Bowen, head and meteorologist of Aon's Impact Forecasting Unit, in a statement on Tuesday. "Because a high volume of pipes bursts due to the cold, there is a backlog of repairs that means that claims will take a while to be fully processed. As the country continues to deal with repeated winter storms, the final loss data will be delayed until the situation is less volatile. "

A big city storm system in early January brought heavy rain, mountain snow, high winds and mudslides to parts of Washington, Oregon and California, resulting in up to $ 1

25 million in financial losses and $ 75 million in insured losses, while a separate Pacific storm system in mid-January gave rise to periods of heavy rainfall, flooding, snow, wind power and landslides across parts of California and Oregon, resulting in total economic losses of over $ 275 million, with public and private insurance companies covering approximately $ 175 million.

But Australia recorded its hottest month on record, with an average national temperature of 86 ° F in January, after data began to be held in 1910, the report said.

"Less than normal rainfall just reinforced the ongoing serious drought, "Aon said in a statement." At the same time, northern Queensland suffered difficult floods. "

Australia's insurance council quoted more than 6,525 claims with payments close to US $ 80 million ($ 57 million), although this figure is expected to rise with overall financial losses is also expected to increase substantially, the report said. Total economic damage can approach $ 1 billion.

"While there was a lot of focus on several winter storms and extreme colds via the Polar Vortex in the United States, it got an opportunity to recall that weather is local," Michal Lörinc, disaster analyst at Impact Forecast, said in a statement. "Australia, for example, experienced the opposite in terms of record-warming heat. In fact, January 2019 proclaimed the hottest month on record for the country. Changes in jet stream behavior and other synoptic properties can lead to more unusual and extreme weather phenomena."

Below In the past year, the severe weather caused 30 deaths in Europe and hundreds of millions in financial losses in January, the report said. For example, heavy rainfall in northwestern Spain on January 23 and 24 resulted in the flood and landslide, with total economic losses likely to exceed $ 50 million ($ 58 million). Consorcio de Compensación de Seguros, a public insurance company, expected 3,100 applications with payments of EUR 25 million.

                    


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