Over 70,000 claims adding up to $1.1 billion in insured losses are tied to a severe weather outbreak that moved across the U.S. Midwest and Southeast in March, according to Aon Benfield’s monthly catastrophe recap report released Tuesday.
At least 65 confirmed tornados– including two EF-4 — caused extensive damage in parts of southern Indiana, Kentucky, Tennessee and southwest Ohio during the March outbreak and caused economic losses of over $2.0 billion, the report said, citing Storm Prediction Center data.
41 people also perished during the storms.
Other systems moved through the central U.S. later in the month and caused extensive damage, including a EF-3 tornado in southeastern Michigan that destroyed 207 homes causing $150 million in insured losses.
Other U.S. catastrophic U.S. events during the month also included severe flooding in Louisiana, which caused damage to 1,500 dwellings over five parishes.
Throughout the rest of the world, the report cited the magnitude 7.4 Mexican earthquake that damaged or destroyed 44,000 homes, businesses, hospitals and schools.The Mexican Association of Insurance Institutions reported insured losses at approximately MXN2.07 billion ($163 million), the Aon report said.
Risk Market News Newsletter
Join the newsletter to receive the latest updates in your inbox.