GLRE - U.S. Convective Storm Insured Losses Hit Record $30bn In 2020: Munich Re
- 2020 saw convective weather losses reach a record level in the United States, according to Munich Re's data, with $40 billion of economic losses experienced and around $30 billion of these were insured.
- In total, the convective storm peril therefore drove 45% of total U.S. insured natural disaster losses in 2020, with the hurricane season contributing $26 billion and wildfires $11 billion, for a total of $67 billion for the year.
- Out of the total $82 billion of natural disaster losses the insurance and reinsurance industry paid for in 2020, some $67 billion emanated from disaster events affecting the United States.
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U.S. Convective Storm Insured Losses Hit Record $30bn In 2020: Munich Re