Severe Storms Cause $60 Billion in Insured Catastrophe Losses in the U.S.
Severe convective storms (SCS) have become a major driver of insurance claims, accounting for nearly half of all insured natural catastrophe losses last year, totaling over $60 billion. These storms, characterized by flash flooding, high winds, and hailstorms, often strike with little warning. Hailstorms are responsible for 50% to 80% of all SCS-related insurance losses. The impact is significant, with high-value assets like aircraft fleets and solar power installations being affected. Population growth in hazard-prone areas and outdated construction codes have increased the volume of assets at risk, while the cost of repairs has surged. 
