Re/insurance broker Aon has reported that US re/insurers will likely face a multi-billion-dollar payout over a series of convective storms in May that resulted in extensive hail, tornado, wind and flood damage.
Of note was a severe storm that swept across the Plains, Lower and Middle Mississippi Valley, Southeast and Mid-Atlantic sections of the country from May 3rd to 5th.
Total combined economic losses are anticipated to exceed $850 million, with most of the hail and wind-related damage being insured.
