Insured losses in China from Typhoon Lekima are estimated to exceed CNY 6 billion, according to catastrophe risk modeling firm AIR Worldwide.
China’s ninth typhoon this year, Lekima made landfall on August 10 and was the strongest storm to hit the region since Typhoon Chan-hom struck in 2015.
Travel, tourism, and shipping have been particularly affected by Lekima. The typhoon caused the suspension of train, plane, and bus travel, and ships were recalled to port in advance. Additionally, two of Shanghai’s largest airports cancelled most flights, with hundreds of cancellations reported at other airports across China, including in Beijing.
AIR’s modeled loss estimates include insured physical damage to onshore property (residential, industrial, commercial, and construction all risks/erection all risks), for both structures and their contents due to wind and precipitation-induced flooding in the Chinese provinces of Anhui, Hebei, Jiangsu, Shandong, Shanghai, Tianjin, and Zhejiang.
