Reports on recent catastrophe losses continue to be updated. This week, catastrophe modeling firm AIR Worldwide estimates that insured losses from the severe thunderstorm outbreak that struck the United States from April 22 to April 28, 2011, are between $3.7 billion and $5.5 billion. Also, loss estimates on the March 11 earthquake in Japan continue to rise. EQECAT estimates the total insured loss from this event to be $22 to $39 billion.
AIR’s insured loss estimates for the southeastern U.S. storms reflect insured physical damage to property (residential, commercial, industrial, auto), both structures and their contents; additional living expenses (ALE) for residential claims and business interruption losses. The death toll from the events is currently estimated at 354 across seven states, making it the second-deadliest severe thunderstorm outbreak in U.S. history, after the Tri-State tornado outbreak of 1925.
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