Catastrophic Weather Events: A Billion-Dollar Disaster in the Making

Polar Vortex and Convective Storms: A Double Blow to the US

Insured losses from March storms in the United States are likely to surpass $1 billion, Aon said in its monthly Global Catastrophe Recap. Multiple outbreaks – featuring tornadoes, hail, snow, and flooding – were to blame. The most notable included severe weather across the Central and Southern United States, with 122 tornadoes touching down during the month – the most since 2017. Alabama, Mississippi, Texas, Georgia, and Tennessee experienced the most damage.

Texas: The Epicenter of Winter Weather Disasters

This followed record-setting winter weather-related insured losses in February, following a prolonged Polar Vortex event, in which Arkansas, Kentucky, Tennessee, and Texas were among the hardest-hit states. Texas was hard hit by the winter weather, which left dozens dead, millions without power, and nearly 15 million with water issues and could wind up being the costliest disaster in state history. Disaster-modeling firm AIR Worldwide says insured losses “appear likely to exceed $10 billion.”

Flooding and Severe Weather: A Persistent Threat

In February and into March, multiple rounds of heavy rainfall and severe weather generated flooding across parts of the Ohio and Tennessee Valleys. Parts of Kentucky, Tennessee, and West Virginia were most affected. “Impacts were compounded by localized severe weather, including large hail, straight-line winds, and isolated tornadoes,” Aon reported. “Total economic losses were estimated to approach USD 100 million.”

Severe weather activity in the South continues in April. A cluster of storms swept across the region over the weekend, leaving one person dead in Louisiana, toppling trees and power lines in Mississippi, dropping baseball-sized hail in Alabama, and leveling buildings in the Florida Panhandle.

For readers, it's crucial to stay informed about weather forecasts and have adequate insurance coverage, especially for flood insurance, which is often overlooked. Additionally, ensuring that homes and businesses are prepared for extreme weather conditions can significantly reduce potential damage and losses.