The insurance and reinsurance industries footed a hefty bill last month as adverse weather conditions descended across portions of the globe.
Thunderstorm type weather, windstorms and hailstorms that hit three continents in February amounted to an additional $1 billion in insurance market losses.
According to an Artemis report on a forecast from
Aon Benfield risk modelling unit Impact Forecasting, the US will have to recover from damage to homes, businesses, vehicles and other structures as a result of 60 confirmed tornado touch downs in the Midwest, southeast, and mid-Atlantic.
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Meanwhile, the UK and Germany will have to deal with the $105 million estimated losses from windstorm Doris.
In Australia, potent thunderstorms which led to hailstorms in New South Wales, caused widespread damage and disruption.
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